The CSL Limited (ASX: CSL) share price has been on form over the last 12 months.
As you can see on the chart below, the biotherapeutics company's shares have risen over 14% to $300.24.
As a comparison, the ASX 200 index is down almost 3% over the same period.
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Has the CSL share price peaked?
If the broker community is to be believed, the CSL share price could still have plenty of gas in its tank and be destined to keep climbing from here.
For example, analysts at Citi, Macquarie, and Morgans, to name just three, all have the equivalent of buy ratings on its shares with price targets implying double digit returns.
Citi currently has a buy rating and $350.00 price target. Based on the latest CSL share price, this implies potential upside of approximately 16.5% over the next 12 months.
Macquarie is almost as bullish with its outperform rating and $344.00 price target, which implies almost 15% upside for investors.
Finally, Morgans has an add rating and $337.92 price target, which suggests that the CSL share price can rise approximately 12.5% from here.
What are brokers saying?
All three brokers are positive on the company's outlook and expect strong earnings growth in the coming years.
This is being underpinned by a significant improvement in plasma collection conditions, the acquisition of Vifor Pharma, new product launches, and strong demand for immunoglobulins.
Morgans commented:
We believe CSL is poised to break-out this year, a COVID exit trade, offering double-digit recovery in earnings growth as plasma collections increase, new products get approved and influenza vaccine uptake increases around ongoing concerns about respiratory viruses.
Citi recently boosted its earnings forecasts for similar reasons. It explained:
We increase our FY23-25e NPATA per share (Core EPS) by +1%/+7%/+10% reflecting the faster than expected recovery in plasma collections and higher sales. Our TP moves to $350 (from $335) Maintain Buy.
All in all, it may not be too late to snap up this high-quality company.
