** Jefferies lowers CSL's CSL.AX PT to A$275 from A$288, but remains constructive on long-term growth, highlighting continued plasma products market underpenetration and rational industry dynamics

** Brokerage expects the biotech major to deliver high single-digit EPS growth over the medium term

** Says stock is trading at 17.6x forward P/E, nearly half its historic level, which it sees as “too cheap”

** Shares advance as much as 3.2% to A$205.080, though are down 27.2% YTD, including today's gains

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk))