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The CSL share price is up 32% this year: Will there be even more gains in 2019?

It has been another positive year for the CSL Limited (ASX: CSL) share price.

If the biotherapeutics company’s shares don’t slide lower on Monday, it will mean they finish 2018 with a gain of at least 32%.

Is it too late to buy CSL shares?

Although CSL’s shares have rallied hard this year and trade at a premium to the market average, I don’t believe it is too late to make an investment.

While I wouldn’t necessarily expect another 32% gain next year, I think CSL’s shares are more than capable of being market-beaters again in 2019 due to the strength of its core business and growing plasma collection network.

I’m not alone in thinking that CSL has market-beating potential next year.

A recent note out of the Macquarie Group Ltd (ASX: MQG) equities desk reveals that its analysts retained their outperform rating and $230.00 price target following its R&D day.

This price target implies potential upside of approximately 23% over the next 12 months.

According to the note, the broker is positive on CSL’s near term growth prospects thanks to positive contributions from products that have been commercialised in recent years.

In addition to this, Macquarie believes that its growth could be given a boost from a number of products under development and early stage opportunities.

The former includes the FDA submission for a 21-day dose for Idelvion, the phase 3 study of CSL842, and expanding Hizentra indications.

Should you invest?

I think Macquarie is spot on with its assessment and feel now would be a good time to consider picking up CSL shares.

Other options in the healthcare sector that I think also have the potential to be market beaters are hearing solutions company Cochlear Limited (ASX: COH) and medical device company ResMed Inc (ASX: RMD).

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Cochlear Ltd. and ResMed Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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