IDP Education (ASX:IEL) share price sinks 5%: Time to buy?
The IDP Education Ltd (ASX: IEL) share price has started the week deep in the red.
In afternoon trade, the student placement and language testing company’s shares are down 5% to $21.58.
Why is the IDP Education share price sinking today?
Investors appear to have been selling IDP Education’s shares due to concerns over the impact the COVID-19 crisis in India could have on its performance.
The Indian market is the biggest contributor to the company’s earnings. So with COVID-19 numbers sadly rising rapidly in the country, there is significant downside risk to earnings estimates.
Is this a buying opportunity?
One leading broker that believes the weakness in the IDP Education share price is a buying opportunity is Goldman…