0021 GMT - Seek's ability to drive continued operating leverage keep its bull at Morgans onside despite macroeconomic conditions weighing on the outlook for ad volumes. Analyst Steven Sassine tells clients in a note that the Australian job advertiser has levers including pricing, internal tech-related efficiencies and discretionary cost control that it can pull to maintain profitable medium-term growth. Sassine cuts his FY 2027 EPS forecast by 16% on increased depreciation and amortization, higher net interest costs, and a 2% cut to his revenue expectations. Nonetheless, he keeps a buy rating on the stock. Its target price falls 16% to A$19.90. Shares are up 5.3% at A$14.65.