BUZZ-Australia's IDP Education jumps; Morningstar positive on long-term outlook

Reuters

Nov 08, 2024

** 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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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))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}