** Jefferies upgrades IDP Education IEL.AX driven by recovery in the U.K. market and promising performance in China
** Sees signs of recovery in the UK student visa numbers after a period of decline, to positively impact the education counsellor's business
** Brokerage upgrades stock to a "Hold" rating, assigns a PT of A$11.8
** Jefferies highlights co's China IELTS initiative, an English proficiency test, as outperforming expectations and potentially boosting revenue
** Flags firm's plans to diversify in Spain, Germany, others, to have a short-term impact and expects it to be not significant
** Despite policy challenges, the brokerage sees IEL's stock finding support around A$10/share
** Shares of co so far this year are down 40.9% as of the last close
(Reporting by Kumar Tanishk in Bengaluru; Editing by Chris Reese)
((Tanishk.Kumar@thomsonreuters.com;))
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