Australia's CSL up as Morgan Stanley remains positive on plasma division
Shares of CSL CSL.AX rise as much as 1.8% to A$178.47, set to snap two straight sessions of losses
Morgan Stanley sees a favourable medium- to long-term outlook in demand for immunoglobulin (Ig), a component found in blood plasma
Notes distributed volume of Ig in the U.S. has increased strongly over time, with high single-digit annual growth recorded over the past 3, 10 and 15 years
Brokerage sees headroom for growth in the U.S. across various therapies, including cell therapy; also sees scope for increased in ex-U.S. markets
MS sees potential for Ig outlook alongside yield initiatives to support a gross margin recovery for CSL Behring, co's plasma segment
Brokerage retains "overweight" tag, price target A$248
Stock down 37.3% YTD, including the day's moves
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