Global student placement business IDP’s recent acquisition of Intake Education is helping accelerate the company’s expansion into Africa which should offer the next chapter of growth following South-East Asia, China and India. We like the business’s growth profile as the world moves on from Covid although some guidance would have been nice from management when they reported in August. The company still has plenty of cash in the bank if further opportunities arise while a return to on-campus learning will be the basis of the stock’s recovery – it’s certainly what over 90% of students want!
- We can now see ~20% upside for IDP over the coming months into 2023 after the stocks ignored much of the recent fall by high growth stocks.
MM is bullish IDP ~$27
Add To Hit List
