News SummaryDJ IDP Keeps Bull Despite Regulatory Uncertainty -- Market TalkIEL$17.51-$0.59 (-3.3%)$19.26$15.76

26 Mar 2024 15:44:551 View0444 GMT - IDP Education keeps its bull at UBS despite regulatory uncertainty including in Canada and the U.K.

Analyst Tim Plumbe tells clients in a note that the initial disruption on the Australian student-placement provider from policy changes in Canada aren't fully reflected in analysts' FY 2025 forecasts.

In January, Canada announced a two-year cap on foreign students.

With the U.K. heading for a national election this year, any tightening of student work rights being mulled by the center-left opposition could also have an impact, Plumbe says.

Nonetheless, he remains positive on the long-term opportunity. UBS cuts its target price 9.6% to A$25.30 and keeps a buy rating on the stock, which is down 3.5% at A$17.46. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

March 26, 2024 00:44 ET (04:44 GMT)