The CSL Limited (ASX: CSL) share price may have failed to follow the market higher on Tuesday but it is still up significantly over the last 12 months.
Since this time last year the global biotherapeutics company's shares have rallied a massive 37% higher.
Is it too late to invest?
While CSL's shares are not the bargain buy they arguably were about six weeks ago, I still see a lot of value in them at current levels for long-term and patient investors.
I'm not the only one that thinks this. A note out of Ord Minnett this morning reveals that its analysts have retained their accumulate rating and lifted the price target on CSL's shares to $219.00 ahead of its half year results release in the middle of the month.
This price target implies potential upside of approximately 13.5% for its shares over the next 12 months.
According to the note, the broker believes that strong immunoglobulin demand, price increases, and growth in speciality therapy sales will lead to a solid increase in half year profits.
Ord Minnett wasn't the only broker speaking positively about the company today. Another note out of UBS reveals that its analysts have retained their buy rating and $216.00 price target on its shares in the run up to its results release.
It has previously stated its belief that strong revenue growth will be underpinned by its core plasma product sales and the likes of Haegarda, Idelvion, and Kcentra.
Should you invest?
Although its shares are by no means cheap, if you're happy to buy and hold one of Australia's highest quality companies for the long term then I think CSL's shares ought to be considered a strong buy alongside fellow healthcare shares Cochlear Limited (ASX: COH) and ResMed Inc. (ASX: RMD).
