IDP Education's (ASX:IEL) group earnings are seen as remaining resilient, with fiscal year 2027 Australia SP expectations already relatively low, Jefferies said in a Thursday note.

Australia's fiscal year 2026 offshore higher education visa grants softened further, declining 16% year-over-year. Lodgments point to weaker underlying demand and potentially softer AU SP volumes in fiscal year 2027. However, IELTS website traffic remained resilient.

However, Similarweb's explanatory power for IDP IELTS volume growth is only 71%, suggesting the outcomes may be just slightly above consensus, Jefferies said.

The investment firm has a buy rating on IDP Education with a price target of AU$3.30 per share.