What’s the outlook for the CSL share price in July?

We take a look at what the experts are saying about the biotech company’s shares.

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Key points

  • CSL shares have lost nearly 7% year to date 
  • However, multiple analysts are tipping the company's share price to go higher 
  • Citi is predicting "strong demand" for plasma products 

The CSL Limited (ASX: CSL) share price was almost flat in June, but could it have better days ahead in July?

CSL shares have gained 0.04% since market close on 31 May and are currently trading at $271.96. For perspective, the  S&P/ASX 200 Index (ASX: XJO) has shed 7% in the same time.

Let’s take a look at the outlook for the CSL share price in the next month.

Could CSL go higher?

CSL is a global biotechnology company specialising in plasma products and flu vaccines.

Several analysts are tipping the company’s share price to go higher. Citi analysts have recently placed a $330 price target on the company’s shares and maintained the buy rating. This is a 21% upside on the current share price.

Analysts at Citi highlighted there is “strong” demand for plasma products, while supply is constrained due to low collection volume. Citi said:

With plasma collections now back to pre-pandemic levels, we expect the market to shift its focus to the strong underlying plasma product demand.

Meanwhile, Ben Clark from TMS Capital recently named CSL as one of a number of “high-quality growth businesses” that could be an opportunity. He said the CSL share price and other quality ASX shares are lower than where they should be and will be “significantly bigger” from this point.

Wilsons analysts have also highlighted CSL as one of three shares the team has added to their “focus list” of desirable ASX shares. The team screened the S&P/ASX 300 Index (ASX: XKO) list for shares that look like “value”, as my Foolish colleague Tony reported.

CSL delivered a net profit after tax (NPAT) of $1.76 billion in the first half of FY22, down 5% on a constant currency basis. The company predicts a total net profit after tax for FY22 of between $2.15 and $2.25 billion.

CSL share price snapshot

The CSL share price has descended nearly 5% in the past 12 months, while it is down almost 7% this year to date.

In comparison, the benchmark ASX 200 has shed close to 9% over the past year.

CSL has a market capitalisation of more than $130 billion based on today’s share price.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Monica O'Shea has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. 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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