CSL upgraded to Buy from Hold at Canaccord

Canaccord analyst Shane Storey upgraded CSL (CSLLY) to Buy from Hold with a price target of A$225, down from A$230. The annual general meeting downgrade was primarily related to Seqirus, where U.S. vaccination rates have failed to rebound, notes the analyst, who also points out that CSL deferred its vaccine demerger indefinitely. The firm believes the “exaggerated response” and “sharp correction” makes it time to re-engage with CSL shares, the analyst tells investors.