CMXHF - CSL Limited: Earnings Beat Doesn't Mask Unfavorable Trial Results (Downgrade)

2024-02-13 15:00:58 ET

Summary

• CSL Limited achieved a +3% earnings beat for 1H FY 2024, and the company's full-year FY 2024 financial guidance was left unchanged.
• But CSL Limited's CSL112 trial results were unfavorable, which suggests that there might be an absence of meaningful pipeline-related catalysts for the stock in the short term.
• I rate CSL Limited as a Hold after considering both the CSL112 trial results and its above-expectations interim earnings.

Elevator Pitch

My investment rating for CSL Limited ( CSLLY , CMXHF) [CSL:AU] is a Hold now.

I wrote about CSL Limited's potential for further shareholder capital return, and the company's medium term bottom line expansion target in my previous November 17, 2023 update ....

For further details see: