Healthcare Goliath CSL has drifted 4% lower this month, not a great result in a strong market. Ironically, Goldman recently reinstated CSL as Buy with a $325.40 target, but the markets are not listening yet. CSL may have the most to gain from Trump’s proposed reduction in the corporate tax rate to 15% for US domestic producers; they around 40%% of their production in the US. However, the stock looks and feels heavy, and we have no intention of adding to our position at current levels.
- We only like CSL’s risk/reward in the $250-260 area, or ~5% lower. MM owns CSL in our Active Growth Portfolio.
MM is cautiously bullish toward CSL
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