The CSL Limited (ASX: CSL) share price enjoyed a healthy boost in July, finishing the month up 7.7%.
And though the S&P/ASX 200 Index (ASX: XJO) listed global biotech company is dipping into the red today, it's up another 1.3% so far in August.
With those gains in the bag, investors are now pondering if there's more upside to come for the CSL share price this earnings season.
For some greater insight into that question, we defer to the experts.
An all-weather company
Andrew Tang is co-head of investment strategy at Morgans Financial.
In Livewire, Tang said CSL is one of "several all-weather companies we think are capable of resisting cost inflation".
Morgans analyst Derek Jellinek sees further potential upside for the CSL share price.
Jellinek "maintains a solid outlook for the biotech firm, with plasma collections expected to continue improving via numerous initiatives. He tips [earnings per share] EPS growth of 17% for FY2023 and a total shareholder return of 15% over the next 12 months".
17% upside for the CSL share price
Citi analysts are also bullish on the outlook for the CSL share price.
As The Motley Fool reported yesterday, the broker retained its buy rating and increased its price target for the biotech company to $345 per share.
That's 16.7% above the current CSL share price of $295.57.
Like Morgans, Citi also pointed to an improved outlook for plasma collections, which were hindered during the pandemic years. Citi noted the strong collection results from CSL competitors Grifols and Takeda in its note:
Results from Grifols (June HY) and Takeda (June Q) show continued improvement overall in the operating environment for the plasma industry – this is as we anticipated and supportive of our CSL forecasts.
The key points from the results were: 1) Demand is very strong, and prices are up mid-single digit, showcasing the pricing power of plasma companies; 2) Plasma collections are now well above pre-covid levels; 3) Plasma donor fees are coming down, helping margins.
Citi added, "The settlement of the Vifor deal, and a positive outlook on plasma collection at the FY22 result will continue to see the share price outperform over the next 12 months."
CSL reports its full financial year results on Wednesday 17 August.
