This language testing and student placement company showed its vulnerability to COVID as it corrected almost 20% on the emergence of the Omicron variant. This is a quality company which definitely falls in the category of a recovery story with its performance very linked to sentiment towards COVID. The issue we have is the companies valuation especially if / when interest rates move higher and growth names potentially rerate, as they often do hence we would rather buy into pullbacks as opposed to chase strength although fresh highs feel likely in the coming months.
MM likes IEL closer to $32
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