Sentiment has certainly turned positive on the healthcare sector recently and with healthcare the top performing sector on Wall St last night (CSL’s US listed stock up 2.64%) the locally listed stock is a pretty sure bet to surge past $300 on Monday.
It’s fair to say recent gains have been largely due to favourable exchange rate movements however since the ASX200 last peaked at 7592 on April 21 (almost 3 months ago) CSL has outperformed the market considerably.
Happy to stay overweight as a defensive play for the time being. With the froth completely blown off the market there is again proper scrutiny and analysis of the fundamentals - CSL stands up pretty well in that respect.
The weak $A has nearly got us to $300.....with sentiment now strongly favouring the sector a positive half year report in terms of results/announcements/forecasts could now see CSL kick well north of $300.
In terms of its relative attraction as an investment - the planets haven’t aligned like this for CSL in quite a few years.
(20min delay)