With the shares having underperformed the broader market by no less than -19% over the month past, including a noticeable drubbing in yesterday’s session, Citi analysts have upgraded CSL to Buy from Neutral.
The analysts note the global race for a covid-19 vaccine is running in full force now. CSL may or may not get involved with a successful end product, but financial implications should be benign, in case a competitor wins the prize, concludes Citi.
Sector: Pharmaceuticals, Biotechnology & Life Sciences.
Target price is $334.00.Current Price is $288.00. Difference: $46.00 – (brackets indicate current price is over target). If CSL meets the Citi target it will return approximately 14% (excluding dividends, fees and charges – negative figures indicate an expected loss).