0001 GMT - Bell Potter is wary about the impact AI is having on Australian job site operator Seek. "AI looks to be having a near-term impact on the types of roles employers are actively seeking at present, which may be negatively affecting SEK due to the types of roles advertised on platform," the broker says. It says clerical and administrative roles and sales workers are underperforming other jobs categories such as technicians, trades, managers and laborers. "The pivot to a hawkish rate backdrop is also likely to be impacting volume and types of jobs required," Bell Potter says. It cuts its stock price target to A$13.80/share from A$15.20/share, saying it awaits a positive shift in sentiment or visibility on a recovery in jobs volumes. Shares are down 2.6% at A$12.37.
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