Shares of Australia’s employment service provider Seek (ASX:SEK) have seen an increase of 2.2% at A$23.2.

The steady climb can be attributed to JP Morgan’s decision to upgrade the company’s status from ‘neutral’ to ‘overweight’, while keeping the price target at A$27.

JP Morgan’s analysts predict that the yearly volume trends of Seek (ASX:SEK) are poised to benefit from a less competitive market environment.

The brokerage continues to hold its position at the midpoint of the FY24 outlook range in sales, EBITDA, and NPAT.

Out of 13 analysts, eight rate the stock as ‘buy’, three deem it a ‘hold’, while two advocate selling.

Their median price target rests at A$26.85.

By close of the previous year, the company’s stock had risen by 8.5%.

Seek (ASX:SEK) is an Australian-based online service company, specialising in employment and career-related services.