CSL has already recovered ~25% from its March low but we remain bullish and long in our Flagship Growth Portfolio targeting a break to fresh all-time highs, a “call” which has a couple of major implications in our opinion:
- If CSL is going to maintain its recent 4-months advance, which has walked a similar path to the ASX, then an assault on 8000 by the index is very realistic into 2022.
- Also if CSL can scale fresh highs its unlikely that interest rates and bond yields are going to rally strongly through to Christmas.
- Lastly the recent outperformance by the IT & Healthcare Sectors has much further to unfold.
MM is bullish CSL targeting 15-20% upside
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