Seek's Fair Value Estimate Increased 14% to AUD 16.00 Following Good First-Half Result

Seek Remains Undervalued Following OES Investment

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

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Morningstar, Inc.

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Equity Bottom-Up

<p>Narrow-moat-rated <a href="https://www.smartkarma.com/entities/676" target="_blank" data-smartkarma-citation="entities:676:1">Seek Ltd (SEK AU)</a> has performed well over the past year, with its share price up 27% versus the 10% increase in the S&amp;P/ASX 200 Index. Investors have been encouraged by a stronger-than-expected first-half contribution from the relatively mature Australian business, which comprises 50% of group EBIT, and the massive earnings growth potential of the Chinese business, Zhaopin. We have increased our fair value estimate by 2% to AUD 18.70 to reflect the time value of money on our…</p>

Narrow-moat-rated Seek Ltd (SEK AU) has performed well over the past year, with its share price up 27% versus the 10% increase in the S&amp;P/ASX 200 Index. Investors have been encouraged by a stronger-than-expected first-half contribution from the relatively mature Australian business, which comprises 50% of group EBIT, and the massive earnings growth potential of the Chinese business, Zhaopin. We have increased our fair value estimate by 2% to AUD 18.70 to reflect the time value of money on our…

Seek Looks Overvalued Despite Huge Chinese Opportunity