Has CSL Ltd (ASX: CSL) turned the corner?
Hi Team, Do you think CSL has turned the corner? General opinion only Thanks Also, how does MM interpret ASX news releases.
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Answer
Hi Sidney,
CSL has bounced ~19% from last week’s low but it is still down 36% year-to-date.
At this stage we feel the bounce by CSL is EOFY book squaring combined with some underlying strength coming back into the healthcare sector which is up 4.5% so far in June.
CSL is unquestionably cheap on historical standards trading on 12x, but it has plenty of work to do to convince the market this is no more than a bounce in a downtrend.
The healthcare giant is scheduled to report its FY26 full-year result on 18 August; at this stage we would be more comfortable paying a higher price if we see the company’s performance improving but we do stress it screens cheaply for investors attached to the company.
In terms of ASX news releases the vast majority how no relevance &/or impact on stock prices. In terms of the ones you mentioned:
- NEM on 4/6/2026 releases on the MM Site Here.
These are small sales of shares in the US by Directors, of less than $10k and in our opinion should be largely ignored.
Meaningful sales/buys by directors get major airtime and stocks usually react accordingly.
