Citi says Omicron blow to plasma collection to weigh on CSL's FY23 earnings

Haemonetics

09/02/2022 19:57

** Brokerage Citi expects biopharmaceutical co CSL Ltd's
 CSL.AX  FY23 results to be impacted by continued weakness in
plasma collection due to Omicron, given the about 9-month lag
between collection and sale 
    ** Citi bases this on results of peers Haemonetics Corp
 HAE.N  and Takeda Pharmaceutical  4502.T  pointing to weakness
in plasma collection during the Dec. 2021 quarter
    ** CSL's plasma collection also hit by the United States
banning Mexican citizens from crossing border to donate blood
 urn:newsml:reuters.com:*:nL4N2SR04J 
    ** CSL's half-yearly earnings report expected on Feb. 16;
brokerage awaits details of progress on plasma collection
    ** Citi maintains price target of A$340 and "buy" rating
    ** Eight of fourteen analysts rate the stock "buy" or higher
and six "hold"; their median PT is A$325 – Refinitiv Eikon data 
    ** CSL share price has tumbled 12.1% so far in 2022
    


 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))