CSL slips 6% as Citi slashes target price, Morningstar urges firm to hire new CEO

ReutersMay 12, 2026 12:34 AM

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Shares of Australia's CSL CSL.AX down as much as 6% to A$94.760, on track for their fourth consecutive session of losses, if current trends hold

Citi downgrades company's rating to "neutral" from "buy", cuts target price to A$110 from A$200

Citi downbeat on CSL, says investors will be cautious; trims NPATA estimates by 10% in FY26

Analysts at Morningstar slash revenue and underlying NPAT forecasts for biotech firm by 3% and 9%, respectively, on average over next 10 years

Says it was hard to justify high revenue growth for CSL, given lack of sales momentum

On Monday, Australia's CSL cut its annual profit forecast and warned of a $5 billion impairment

The investment research firm says "hiring credible new CEO and unveiling a compelling vision will be important steps on the path to redemption"

Nine of 16 analysts rate the stock "buy" or higher, seven "hold"; their median PT is A$195 – data compiled by LSEG

YTD, stock down 44.1% including day's moves

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