0206 GMT - IDP Education's bulls at UBS are pleased to see the student-placement provider hitting consensus earnings forecasts, even if cost reductions contribute more than had been expected. The investment bank's analysts argue that, even if IDP's better-than-anticipated cost reductions are effectively a result of pulling forward incremental savings from the next fiscal year, this is positive because it allows more time for a revenue recovery to emerge. They tell clients in a note that the stock's 60% decline since the start of February is overdone, even with a tough operating backdrop. UBS has a buy rating on the stock and a target price of 5.15 Australian dollars. Shares are up 8.1% at A$2.595. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
June 18, 2026 22:06 ET (02:06 GMT)
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