CSL,VarmX deal aligns with R&D strategy, offers earnings upside, Morgan Stanley says

ReutersSep 22, 2025 10:38 PM

Morgan Stanley says the agreement between CSL CSL.AX and VarmX aligns with the biotech giant's recalibrated R&D strategy, offering potential for earnings and valuation upside

Brokerage expects potential mid-single-digit EPS accretion over long-term, with potential valuation upside of about A$19/share

Reduces PT on CSL to A$285 from A$291, to reflect Aussie dollar appreciation against the U.S dollar AUD/

Eleven of 16 analysts rate the stock "buy" or higher, five rate "hold"; their median PT is A$294.21, according to data compiled by LSEG

Stock YTD is down 29.2%

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