Sentiment is cyclical which is understandable with so much influence from these dominant human emotions of “Fear & Greed” with CSL typifying what we so often see on the stock level:
- Through 2019 and early 2020 the press were continually singing the praises of CSL helping basically double the share price in a short space of time.
- However the fall from grace was even faster as the market found its self in a crowded position just when CSL wasn’t justifying its lofty valuation hence a~30% dip in just a few weeks.
- The markets subsequently taken over 18-months to consolidate its position and to again start recognising that CSL is a world class company while of course its enjoyed a broad market moving up the valuation curve.
- Rising bond yields may cause a headwind for this healthcare giant but we believe its now set to scale fresh all-time highs
MM is bullish CSL initially looking for ~15% upside
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