The CSL Ltd (ASX: CSL) share price has fallen twice as fast as the benchmark index in 2025.
CSL shares have fallen 10.86% in the year to date, while the S&P/ASX 200 Index (ASX: XJO) has dropped 5.06%.
The ASX 200 peaked on 14 February, and a market sell-off ensued amid fears over how US tariffs will affect global trade.
ASX 200 blue chips like CSL have been caught up in the sell-off.
The biotech giant hit an 18-month low of $246.50 per share on Wednesday.
Today, the CSL share price is $250.48, up 0.8%.
Should you consider buying the dip on this ASX 200 blue-chip share for long-term investment?
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CSL share price trading at 'attractive entry point', broker says
Phil Cornet, a portfolio manager with Atlas Funds Management Australian Equity Income Fund, says the CSL share price has fallen 20% over the past six months despite the company selling largely non-discretionary products.
In the Australian Financial Review (AFR), Cornet said the CSL share price was punished last month despite the company delivering a solid 1H FY25 report.
Cornet said:
We have been surprised at the sharemarket weakness after the company reported solid profit growth and a nice 16 per cent increase in the dividend courtesy of a weaker Australian dollar.
The market ignored a typically good result from CSL's key immunotherapy business and an improvement in the oft-critiqued renal acquisition Vifor and instead focused on a soft flu vaccination period in the US earlier this year.
CSL shielded from Trump effect
Cornet adds that CSL's biopharmaceutical products are largely protected from US President Donald Trump's US tariffs.
He commented:
With [CSL] management guiding to 10 per cent to 13 per cent profit growth in 2025 and the company selling a product that will have limited to no impact from Donald Trump's tariffs, CSL's current share price looks to be an attractive entry point.
The fact that it is an offshore earner is also appealing, given the weakness in the Australian dollar.
CSL and other ASX 200 blue-chip shares sold off
Cornet said the market had been trading on momentum for some time, with investors less tuned into the fundamental values.
The market sell-off over the past month has been a wake-up call, with the ASX 200 dropping by more than 9%.
He said:
For the first time in a long time, it seems valuation matters. A sell-off forces investors to ask what is the right price?
Good stocks are and will be caught up with overvalued stocks in the sell-off, which creates great opportunities for investors.
Stocks with solid earnings and strong balance sheets that pay regular dividends will endure and will be sought after when the calm returns.
Cornet said that in today's "indiscriminate market sell-off", CSL and other blue-chip shares have been sold down to attractive price levels.
Other examples include Macquarie Group Ltd (ASX: MQG), Rio Tinto Ltd (ASX: RIO), and Westpac Banking Corp (ASX: WBC).
In the year to date, Macquarie shares are down 10.6%.
Rio Tinto shares have lost 0.39%, and Westpac shares have fallen 9.1%.
