CSL – Macquarie rates the stock as Neutral

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Macquarie notes foot traffic for around 100 of the US-based collection centres has eased in recent weeks and an increase in new coronavirus cases has been noted over the same period. Current foot traffic sits around -17% below average.

The broker believes a continuation of the recent trends into the December quarter presents downside risk to FY22 forecasts. There are also several catalysts for competitor products expected over the rest of 2020 and into 2021. Neutral retained. Target is $295.

Sector: Pharmaceuticals, Biotechnology & Life Sciences.

Target price is $295.00.Current Price is $291.59. Difference: $3.41 – (brackets indicate current price is over target). If CSL meets the Macquarie target it will return approximately 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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