The CSL Limited (ASX: CSL) share price climbed 3.3% to print a record high of $269.93 today after leading research house UBS reportedly upgraded its ’12 month price target’ on the stock to a heady $295.
Over the last 6 months a number of high profile brokers have also returned bullish verdicts on the blood products business mainly thanks to the belief that the pricing environment for its core blood products is improving.
Back in August a research note out of Goldman Sachs noted how blood or immunoglobulin products represented around 60% of sales for CSL, with Goldman noting the blood products business remains “the foundation of its positive stance on the business.”
Other influential brokers have also tipped CSL to enjoy a strong couple of years as it reaps the benefits of prior investments to ramp up blood products supply, while competitors fails to keep up.
The post The CSL share price is enjoying another broker upgrade today appeared first on Motley Fool Australia.
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Tom Richardson owns shares of CSL Ltd. and Dicker Data Limited.
You can find Tom on Twitter @tommyr345
The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019