0331 GMT - The selloff that followed Seek's annual result and softer-than-expected guidance looks overdone to its bull at Citi. Analyst Siraj Ahmed points out that one of the drivers of the guidance miss is higher depreciation and amortization, which is a noncash expense and only related to the job advertiser's changing expectations of asset usefulness. Ahmed tells clients in his latest note that the volume assumptions with which Seek has underpinned its guidance look more pessimistic than those made by its Australian classifieds peers, notably CAR Group and News Corp-controlled REA. He thinks volume declines could be less severe than Seek assumes. Citi has a last-published buy rating on the stock and a target price of 18.80 Australian dollars. Shares are down 14% at A$13.80. News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires.