Australian biotechnology giant CSL Limited (ASX: CSL) has made many investors wealthy over the decades, but it's been a struggle in recent times.
The brutal reality is that the share price is still 10% lower than its pre-COVID high.
So has the healthcare stock passed its heyday, or are there brighter times ahead?
Let's take a look:
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Poised for a break-out year
Morgans analysts reckon CSL shares are a buy, predicting a post-pandemic revival in the business and the stock price.
"We believe CSL is poised to break-out this year," they stated, according to The Motley Fool's James Mickelboro.
"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, with shares offering good value trading around its long-term forward multiple of ~30x."
The team has a handy 11.6% upside to the stock price over the next 12 months.
Another interesting endorsement is that CSL is currently the fifth most held stock among millionaires, according to investment platform Selfwealth Ltd (ASX: SWF).
"Our millionaire portfolio investors hold strong companies in strong sectors," said Selfwealth chief executive Cath Whitaker.
Big investors are bullish on CSL
Finally, there are plenty of institutional investors that are backing the biotech business.
The Motley Fool's Tristan Harrison reported this week that Australian Foundation Investment Co Ltd (ASX: AFI), Argo Investments Limited (ASX: ARG), and Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) all hold significant stakes in CSL.
"Argo and AFIC are two of the ASX's largest and oldest listed investment companies. They focus on ASX blue chip shares that can provide a mixture of dividends and capital growth," Harrison said.
"At the end of April, CSL shares were the third largest position in the AFIC portfolio, with an 8.1% weighting. CSL was also the third largest position in the Argo portfolio, with a 5.2% holding at the end of April."
The CSL share price is up 10.5% over the past year and 7.5% higher year to date.
