Can CSL shares reach $300 by Christmas?

Can CSL see its old highs again by the end of the year?

| More on:
Male doctor in a lab coat working at laptop looking serious.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

sdf

The past few months have been hard for the CSL Limited (ASX: CSL) share price. Yesterday, CSL shares closed at $258.21 each, down 0.9% for the day. But it was only late last month that this ASX 200 healthcare share had printed a new 52-week low of $228.65.

The all-time highs that we saw way back in early 2020 of over $340 a share seem like a distant fever dream, given what has happened over the subsequent almost four years:

But onto sunnier times, those being the past few weeks. Since the end of October, the CSL share price has rebounded enthusiastically. The company has gained an impressive 11.95% since 30 October, and almost 13% since hitting that new 52-week low.

But many investors might be wondering whether CSL has the potential to reclaim its historic high watermarks. For it to do so, it would first have to cross back over the $300 a share hurdle. So what is the likelihood of CSL achieving this by Christmas?

Firstly, it's worth pointing out that giving out the year's share price targets for ASX shares is a fraught business. But giving out one-month targets? That's a pretty shaky science. ost one-month predictions aren't worth the paper they're written (or typed) on. And this one is no different.

But we can still speculate. After all, as a CSL shareholder myself, no one would be more delighted to see the company at $300 a share.

Can CSL hit $300 a share by Christmas?

So let's do some maths. For the CSL share price to get back to $300, it would have to gain approximately 16.18% from yesterday's closing share price in ~35 days.

Now, if CSL had an earnings report, quarterly update or any other major ASX announcement scheduled for the coming month and a bit, it might be remotely possible for the healthcare giant to plausibly make up this ground.

However, CSL has nothing of the sort scheduled between now and the end of the year. Not even any dividend payments.

As such, barring a major unforeseen event, it's unlikely that anything coming out of the company, at least that is a reasonable assumption, is going to move CSL shares that enthusiastically before Christmas.

Now, we could see some buy ratings from ASX brokers that might have the potential to move the CSL share price around a little.

However, we've already seen quite a few of these over November so far. Just this week, my Fool colleague Bronwyn discussed broker UBS' buy rating on CSL and 12-month share price target of $340. Not to mention some other bullish views from other brokers. So again, this avenue to $300 looks unlikely as well.

If I were a betting man, I would feel pretty comfortable wagering good odds that CSL is not going to be a $300 share by Christmas. But nothing is ever certain on the markets, and stranger things have happened.

Motley Fool contributor Sebastian Bowen 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 recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Healthcare Shares

Doctor doing a telemedicine using laptop at a medical clinic
Healthcare Shares

The Mesoblast share price just rocketed 38%! Here's why

ASX investors just sent the Mesoblast share price up 38%. But why?

Read more »

couple having a happy discussion with a banker
Healthcare Shares

Expert: 4 ASX healthcare stocks to buy ahead of reporting season

Could these ASX healthcare stocks be good additions to your portfolio?

Read more »

Excited couple celebrating success while looking at smartphone.
Healthcare Shares

Guess which ASX 200 stock just jumped 9% on big news

Let's find out what is getting investors excited today.

Read more »

Male doctor in a lab coat working at laptop looking serious.
Healthcare Shares

What are Cochlear shares worth according to Macquarie?

Let's see what the broker is saying about this blue chip.

Read more »

Shot of a mature scientists working on a laptop in a lab.
Healthcare Shares

When will CSL shares finally catch a break?

Here's where analysts think the biotech stock is heading next.

Read more »

An analyst wearing a dark blue shirt and glasses sits at his computer with his chin resting on his hands as he looks at the CBA share price movement today
Healthcare Shares

JP Morgan initiates coverage of Telix Pharmaceuticals. After rising 1,667% in 5 years, is it still a buy?

Can this ASX 200 juggernaut go higher?

Read more »

Cropped shot of an attractive young female scientist working on her computer in the laboratory.
Healthcare Shares

Why this top broker expects CSL shares to surge 26%

A leading broker foresees a big rebound ahead for CSL shares. But why?

Read more »

Man jumps for joy in front of a background of a rising stocks graphic.
Healthcare Shares

Guess which ASX All Ords stock is jumping on big US news

This small cap is catching the eye on Thursday. But why?

Read more »