The CSL Limited (ASX: CSL) share price will be one to keep an eye out for this week.
On Wednesday, the global biotech is scheduled to release its full year results.
While there's still some time left, let's take a look to see what the market is expecting from CSL.
What should you expect from CSL's full year results?
During its first-half results, CSL reaffirmed its FY22 outlook with net profit after tax (NPAT) of between US$2,150 million and US$2,250 million at constant currency.
It noted that the FY22 result is however heavily skewed to the first half.
Under the CSL Behring banner, improving plasma collection is projected to drive stronger immunoglobulins and albumin sales.
CSL's Seqirus business is forecasted to have expenses falling more evenly over the year giving rise to a loss in the second half of sales. Although this may appear as a shock, management noted it is consistent with seasonality.
And what does this broker think?
Goldman Sachs believes there's an upside from the plasma recovery and the US$12.3 billion Vifor Pharma acquisition.
The broker estimates CSL will achieve US$10,903.3 million in revenue for FY22 as the world moves into a post-COVID phase.
In addition, EBITA is projected to come at US$3,718.6 million.
Goldman Sachs said that for Behring, it sees "a sufficiently supportive set-up for margins to recover towards pre-Covid levels by FY24."
It further noted that demand for immunoglobulins portfolio appears robust, with evidence that donor fees are declining in absolute terms.
However, uncertainty remains elevated, and with scope for current cost/mix pressures to temper the near-term margin trajectory, the broker is waiting for more insights from FY22 results next week.
Goldman Sachs has a neutral rating for CSL shares and price target of $307 per share.
Based on today's price of $293.24, this represents an upside of almost 5%.
CSL share price summary
The CSL share price has uncharacteristically been a poor performer in the past 12 months, shedding 2%.
The company's shares reached a 52-week low of $240.10 on 15 February before travelling in circles over the next 4 months.
Since then, the share has tracked higher on the back of renewed market confidence but is still 15% down from its pre-COVID highs.
