Does MM still like CSL?
Hi James,
Is it possible to get an update on CSL, specifically the implications of the potential acquisition they are currently looking at.
Regards
Michael S.
The Latest Q&A
Answer
Hi Michael,
We touched on CSL in our Thursday report and our comments still hold:
“We’ve occasionally been bagged at MM for not being unwavering disciples of CSL, criticism we believe is unfair as we haven’t knocked this business just the share price from a valuation perspective i.e. I can argue that the stock remaining 11% below its 2020 is testament to our price concerns. Discussing this healthcare goliath I have recently found myself describing it as boring at times but after appearing to complete an almost 30% correction this year we believe value has returned to the quality stock i.e. we are bullish looking for another challenge of the $350 area. We own CSL in our Flagship Growth Portfolio.”
