CSL Shares Advance After UBS Analysts Say U.S. Sales May Beat Estimates
CSL Ltd., the world’s second-largest maker of blood-based treatments, climbed the most in more than seven weeks in Australian trading after UBS AG said second-half sales in the U.S. may beat estimates.
CSL rose 2.8 percent, the most since April 14, to close at A$32.82, while Australia’s S&P/ASX 200 Index fell 0.8 percent.
U.S. sales of Melbourne-based CSL’s Privigen and Hizentra, treatments for immune-system disorders, may expand as much as 20 percent in the six months ending June 30 from a year earlier, Andrew Goodsall and Dan Hurren, analysts at UBS in Sydney, wrote in a note after the close of trading yesterday. That’s higher than the brokerage’s previous estimate of 12 percent.
Full-year profit will “meet or beat” UBS’s current estimates, said Goodsall and Hurren, who rate the stock “buy.” UBS is among 6 of 14 brokerages tracked by Bloomberg that recommend investors buy CSL shares. None has a sell rating.
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