With the pandemic receding,
The broker notes risk to the base case remains shortage-induced demand management strategies like managing patients via priority of indication and use of alternative therapies. If such strategies are effective,
CSLhas underperformed the ASX200 year to date by circa -12% and for the company to outperform, plasma collection needs to recover with minimal disruption of demand recovery.
Equal-weight rating with the target dropping to
Sector: Pharmaceuticals, Biotechnology & Life Sciences.
Target price is
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