Citi downgrades to Neutral from Buy given the stock has outperformed since March. The plasma collection market is expected to normalise this year and the broker asserts the rating change is purely based on valuation.
The risk is to the upside if the CSL 112 phase III trial results due at the end of 2021 are positive. Target is steady at $310.
Sector: Pharmaceuticals, Biotechnology & Life Sciences.
Target price is $310.00.Current Price is $300.52. Difference: $9.48 – (brackets indicate current price is over target). If CSL meets the Citi target it will return approximately 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
