CSL Ltd

CSL: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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How a Change in US Health Secretary Could Affect CSL and Cochlear

Shane Ponraj

Dec 18, 2024

Shares in narrow-moat CSL and wide-moat Cochlear are trading roughly flat since US President-elect Donald Trump named avowed vaccine skeptic Robert F. Kennedy Jr. as his pick to lead the US Health Department on Nov. 14, 2024. Similarly, the news does not materially change our long-term views, and we maintain our AUD 310 fair value estimate for CSL and AUD 225 for Cochlear.

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How a Change in US Health Secretary Could Affect CSL and Cochlear

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