CSL Climbs To New High On Bullish Broker Upgrades
Get More Commentary, Discussion & Market Information On -
CSL shares hit a new all time high yesterday ahead of the release of its interim results in a fortnight’s time.
The shares touched an intraday peak of $150.15, the highest they have been since listing decades ago. At that level the company was valued at $68 billion.
They ended the day up 1.6% at $149.84. The shares are up 6% so far this year.
Analysts at Morgan Stanley analysts issued a bullish note on the stock yesterday ahead of its results.
"New product launches and an early flu season increase the Street's conviction an upgrade to CSL's full year 2018 guidance is nigh - though it's already implicit in the valuation," they said.
The broker's expecting revenue to reach $US3.9 billion, net profit of US$846 million, EPS of US$1.89 and a dividend per share of US83¢.
Morgan Stanley noted that the US flu season is early and severe this year and it said that as a consequence it sees upside risk to Seqirus numbers for CSL.
Resmed shares rose again to end at $12.66, up 1.6% and another new peak. They are up 19.7% so far this year.
Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.
At the AFR he was a finance writer, Finance Editor, News Editor and Chief of Staff. At the Nine Network he was supervising producer of Business Sunday for more than 16 years. He has also written for other online and analogue print publications here and overseas.