** Shares of Australia's IDP Education rise as much as 3.1% to A$14.38, highest since Oct. 15
** Co, which provides consultancy services for individuals opting to go abroad for future education, is well positioned to emerge stronger through its earnings cycle - Morningstar
** Brokerage says IDP shares are currently materially undervalued as market appears "overly concerned" with co's student placement business
** Brokerage says its A$23 per-share valuation for the firm would be supported in the long term once volumes of overseas students normalise
** Expects co to outperform broader industry declines and take market share
** Stock has fallen 30.4% this year, as of last close
(Reporting by Nichiket Sunil in Bengaluru)
((nichiket.sunil@thomsonreuters.com))
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