0340 GMT - Australia's CSL gets a new bull on what they see as the vaccine-maker's proactive investments in its immunoglobulin business. Goldman Sachs analyst David Thillainathan initiates coverage of the stock with buy rating, telling clients that the investments and product launches in its Behring medicine portfolio are set to increase CSL's returns on invested capital. Thillainathan forecasts a strong recovery in gross margins following what he says have been a challenging five years for the company, with plasma collection costs set to decline meaningfully. Depressed rates of U.S. influenza vaccinations also presents a growth opportunity, he adds. GS puts a A$325.40 target price on the stock, which is down 0.4% at A$274.50. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 22:40 ET (03:40 GMT)
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