Jefferies trims PT on Australia’s IDP Education, lowers earnings estimates

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Jefferies trims PT on Australia’s IDP Education, lowers earnings estimates

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Jefferies trims PT on Australia’s IDP Education, lowers earnings estimates

BUZZ-Jefferies trims PT on Australia’s IDP Education, lowers earnings estimates

** Analysts at Jefferies lower price target on Australia’s IDP Education IEL.AX to A$15.80 from A$16.00

** Brokerage expects the education services provider’s 2H24 IELTS volume to decline by 8% vs previous estimates of 4% decline pcp

** Lowers estimates forFY24-FY26 revenues by 1% factoring in larger decline in H2 FY24 IELTS volumes – Jefferies

** Brokerage also lowers estimates for FY24-FY26 adjusted EBIT and NPAT by 1% to 6%

** Jefferies retain “underperform” rating

** Six of 13 analysts rate the stock “buy” or higher, four “hold” and three “sell” or lower; their median PT is A$21.18 – LSEG data

** Stock down 15.1% YTD, as of last close

Reporting by Roshan Thomas in Bengaluru

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