2348 GMT - The growing likelihood that federal governments in Canada and Australia will win reelection is positive for student-placement provider IDP Education, according to its bulls at Macquarie. The investment bank's analysts say that incumbent victories would represent the best outcome for IDP. Opposition parties in both countries are proposing more restrictive immigration policies, the analysts observe in a note. They add that IDP is trading at its lowest 12-month-forward price-to-earnings since listing in 2015. Macquarie keeps an outperform rating and A$16.00 target price on the stock, which is at A$8.88 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 08, 2025 19:48 ET (23:48 GMT)
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