One of the best performing blue-chips on the local market this year has been the CSL Limited (ASX: CSL) share price.
Year-to-date the biotherapeutics company's shares have put on a gain of almost 40%.
Is it too late to invest in CSL?
I don't believe it is. Just as long as you are prepared to make a buy and hold investment, that is.
With its shares changing hands at 36x trailing earnings, in the short-term I see limited upside for its shares.
But over the long-term I expect its immunoglobulins and specialty products businesses will continue to generate significant earnings growth that takes its shares higher.
There is also the potential for an extra boost to earnings from its Seqirus vaccines business which was formed though the merger of bioCSL with the Novartis influenza vaccines business it acquired in 2015.
According to management, that business is expected to become profitable in the near future.
Foolish takeaway
Over the last 10 years CSL has provided investors with an average annual total return of 16.5%. While this may be hard to replicate over the next 10 years, I feel confident it has the wherewithal to at least be a market beater.
In light of this, I think it would be a great share to have in most portfolios alongside healthcare sector peer Ramsay Health Care Limited (ASX: RHC).