CSL Ltd (ASX: CSL) shares currently have the fourth-highest stock price in Australia at $244.65.
And analysts predict value growth will keep coming, with many maintaining a strong buy rating on the stock for another month.
It's good news for investors given that the biotechnology giant has seen its share price tumble steadily over the past year.
CSL shares are down 13% year to date and around 5.5% over the past 3 months.
Which begs the question: What next?
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What analysts are saying about CSL shares
According to TipRank data, 13 analysts have reiterated a strong buy position on the shares in May.
Morgan Stanley has put a price target of $313 on the stock and noted a potential upside of 28%.
Goldman Sachs has a $307.2 to $304.6 price target on CSL shares, noting a 24.5% potential upside.
UBS has put a price target of $310 on the stock, and expects a 26.7% upside on the stock.
The average price target among the 13 analysts is $313.36, with a high forecast up to $321.89 over the next 12 months.
That represents a potential 28% to 31.6% increase from today's value.
Why are analysts so optimistic about the CSL share price growth?
CSL's strong profit growth and positive outlook have made it an interesting option for investors, especially those looking for companies that can show more resilience amid market uncertainty.
The Australian biotech firm reported its half-year results earlier this year. For the six months ended 31 December, CSL reported a net profit after tax of US$2.01 billion, which represented a 7% increase on a constant currency basis.
NPATA was US$2.07 billion, up 5% on a constant currency basis to US$2.11 billion.
The main growth driver was its key CSL Behring business, which reported a 10% increase in revenue to US$5.74 billion. The rise also helped offset losses across other parts of the business.
This result fell short of expectations, but CSL's strong forecast for 10-13% year-on-year growth for FY 2025 helped reignite confidence. CSL's NPATA for FY 2025 is forecast to be in the range of approximately US$3.2 billion to US$3.3 billion at constant currency.
Is it too late to buy?
A strong financial forecast and market optimism suggest that CSL may present a good opportunity for investors seeking defensive qualities and growth prospects.
Combined with analyst sentiment and forecasts for the share price over the next year, now could be a good time to buy CSL shares ahead of any potential price rally.
