The S&P/ASX 200 Index (ASX: XJO) may have slipped today, but the CSL Ltd (ASX: CSL) share price had a better day.
CSL shares jumped 0.84% to $270.40. In comparison, the benchmark index dropped 1.18% today.
So what is happening at CSL?
How is the CSL share price performing?
Shares in the global biotech company jumped 2.15% in earlier trade to $273.95 before retreating to the current share price. For perspective, the S&P/ASX 200 Health Care Index (ASX: XHJ) also leapt more than 1% in early trade from 40,260 to 40,683 points before pulling back.
Analysts at Wilsons have recently named CSL as one of four "defensive growth" shares to buy in turbulent times.
In a memo to clients, Wilsons recommended it was "sensible" to have an above-average allocation to defensives including CSL:
Our picks are healthcare, insurance and telco.
Sectors like healthcare and consumer staples, along with utilities, have performed well against a backdrop of higher uncertainty around the US Fed's and RBA's hiking expectations and the impact this will have on the economy.
Wilsons also recommended Insurance Australia Group Ltd (ASX: IAG), Telstra Corporation Ltd (ASX: TLS) and Healthco Healthcare and Wellness REIT (ASX: HCW).
Meanwhile, Macquarie has also recently named CSL as a share to buy during market volatility. My Foolish colleague Brendon reported that CSL is considered by Macquarie to be a COVID-recovery share.
Share price snapshot
The CSL share price has fallen nearly 2% in the past 12 months while it has descended 7% year-to-date.
In comparison, the benchmark ASX 200 has returned less than 1% over the past year.
CSL has a market capitalisation of nearly $130 billion based on today's share price.
