IEL - Morgan Stanley rates the stock as Overweight
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Morgan Stanley expects the the company to deliver a strong first half, with earnings certainty underpinned by strong student visa data. IDP continues to be the broker's preference, notwithstanding it is trading on a higher multiple because of a faster growth trajectory versus Navitas ((NVT)).
Morgan Stanley lifts the price target to $6.40 from $5.85 and maintains an Overweight rating. Industry view is In-Line.
Sector: Consumer Services.
Target price is $6.40.Current Price is $6.25. Difference: $0.15 - (brackets indicate current price is over target). If IEL meets the Morgan Stanley target it will return approximately 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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