CSL (ASX:CSL) share price hit by broker downgrade

The CSL Limited (ASX: CSL) share price was a positive performer on Thursday.

The biotherapeutics company’s shares charged 3% higher to end the day at $289.00.

Why did the CSL share price charge higher?

Investors were buying CSL shares following the release of a strong half year result.

For the six months ended 31 December, the company delivered a 16.9% increase in revenue over the prior corresponding period to US$5,739 million.

This was driven largely by a 38% jump in Seqirus revenue, thanks to a 44% increase in seasonal influenza vaccine sales. Demand for flu vaccines has been exceptionally strong due to the COVID-19 pandemic.

Also supporting the company’s growth was its CSL Behring business, which reported a 9% increase in…