Is CSL the best ASX 200 share to buy in 2023?

The benchmark S&P/ASX 200 Index (ASX: XJO) is home to 200 of the largest listed companies on the Australian share market.

And while some speculative companies sneak in at the low end now and then because of irrational exuberance, the majority of the constituents of the index are high quality businesses.

But given that there are 200 ASX shares to choose from on the index, it can be hard to decide which ones to buy above others.

But don't worry, to help you on your way, listed below is an ASX 200 share that analysts rate very highly right now.

CSL Limited (ASX: CSL)

CSL could be an ASX 200 share to buy in 2023.

It is one of the world's leading biotherapeutics companies with a collection of industry-leading therapies. This includes therapies such as Privigen, Hizentra, Idelvion, and Afstyla.

In addition, CSL reinvests in the region of 12% of its sales back into research and development (R&D) activities each year. Given that CSL delivered sales of US$10.7 billion in FY 2022, that's clearly a large spend on R&D. But it has proven to be more than worth it in the past, with CSL earning a compelling return on investment.

This also looks likely to be the case in the future, with CSL's R&D pipeline containing some potentially lucrative therapies and vaccines.

Combined with its new plasma collection technology, which is expected to yield stronger results and boost margins, the future looks bright.

It's no wonder then that Citi is forecasting strong earnings growth in the coming years. It expects earnings per share growth of 20% in FY 2023, 23.1% in FY 2024, and then 15.9% in FY 2025.

It's also no surprise following recent weakness in the CSL share price and its positive outlook, that Citi sees major upside potential for its shares this year.

The broker currently has a buy rating and $340 price target. Based on the current CSL share price of $282.98, this suggests that the company's shares could rise 20% between now and the end of the year.

Overall, Citi appears to believe this makes CSL an excellent ASX 200 share to buy now.