Morgan Stanley suspects the risks associated with coronavirus are manageable. The main source of risk is lower plasma collections.
CSL sources plasma in the US and EU where implementation of containment measures could lead to reduced volumes. However, the broker assesses no impact in FY20 and only a small impact to FY21, with -8-24% downside to FY20 to earnings.
Equal-weight maintained. Target is raised to $260 from $258. In-Line sector view retained.
Sector: Pharmaceuticals, Biotechnology & Life Sciences.
Target price is $260.00.Current Price is $270.88. Difference: ($10.88) - (brackets indicate current price is over target). If CSL meets the Morgan Stanley target it will return approximately -4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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