CSL shares surge – here’s why
CSL: +8.51%: A strong 1H22 for CSL relative to market expectations today plus their guidance was positive for the full year. Revenue of $5.81bn was above the $5.56bn expected while 1H22 EBIT of $2.21bn compared well to the $2.03bn forecast for the half and also the $2.96bn pencilled in for the full year. While they said the result would be heavily skewed to the first 6 months, they’ve already banked ~75% of the expected full year earnings making it a low bar to get over. All in all, a good result for our 3rd largest ASX listed company after a difficult year having seen the SP fall 25% from their November high.
MM is now bullish CSL
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