Australia's CSL falls on Jefferies downgrade to "hold"

CSL

29/05/2026 06:36

** Shares of biotechnology major CSL Ltd CSL.AX fall as much as 2.5% to A$95.16, their lowest level since May 12 
** Jefferies downgrades CSL to "hold" from "buy", citing limited near-term growth in its Vifor division amid rising competitive pressures
** Cuts price target to A$108 from A$195 after shifting to peer‑based valuation and lowering earnings forecasts
** Says CSL Vifor faces pricing pressure from generic iron products and insurer step-edits favouring lower-cost treatments
** Adds lower-than-expected CHF/USD forex forecast to impact Vifor revenue and profit
** Stock down 43.7% YTD, including the day's moves

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.nair@thomsonreuters.com))