Own CSL shares? Here's what to watch in October

It could be a busy month for CSL and its shareholders in October.

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Do you own CSL Limited (ASX: CSL) shares?

If you do, then you will no doubt be keen to find out what lies ahead for the biotherapeutics company in October.

What's happening in October?

There are a couple of things of note for shareholders of CSL to look out for.

The first is the payment of the company's final dividend for FY 2023 on 4 October. CSL will be paying A$2.01 per share to investors who were on its share register before they traded ex-dividend on 11 September.

But the main event for shareholders next month will be the company's annual general meeting on 11 October. It's possible that CSL could release a trading update at the event, which will give investors an idea of how it is performing in FY 2024.

There's also potentially a third thing for investors to look out for.

Every year, CSL holds a research and development (R&D) briefing which takes investors through its pipeline. This year's event has not been confirmed, but generally, it takes place in October or November.

Should you buy CSL shares?

A number of leading brokers believe that investors should be buying CSL shares today.

For example, Citi has a buy rating and $325 price target and Morgans has an add rating and $328.20 price target on its shares. These price targets imply a potential upside of approximately 30% for investors over the next 12 months.

Morgans commented:

While shares have struggled of late, we continue to view CSL as a key portfolio holding and sector pick, 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 trading at 25x, a substantial discount (20%) to its long-term average.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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