UBS observes 139m flu vaccine doses have been distributed for the US flu season till October 9, up 9% versus last year. CSL also reported having increased its supply of flu vaccine into the US to circa 60m doses for the 20-21 season, a 20% increase from last year.
UBS anticipates a prolonged flu season and expects flu vaccine penetration rate in the US to rise with higher demand due to risks related to covid-19. Seqirus looks well placed to benefit from this and UBS expects its revenues to increase by 17% in FY21.
UBS makes no changes to the Buy rating or $346 price target.
Sector: Pharmaceuticals, Biotechnology & Life Sciences.
Target price is $346.00.Current Price is $302.78. Difference: $43.22 – (brackets indicate current price is over target). If CSL meets the UBS target it will return approximately 12% (excluding dividends, fees and charges – negative figures indicate an expected loss).
