CSL Ltd (ASX: CSL) shares closed 1.49% higher on Tuesday afternoon, at $182.29 a piece. That means the ASX-listed biotechnology company's share price is now 6.01% higher for the year-to-date, but it's still 33.1% below levels seen this time last year.
The global company researches, develops, manufactures, and markets products to treat and prevent serious human medical conditions. It's well-known that the company faced several strong headwinds in 2025 which sent its share price tumbling.
The company's shares suffered a brutal sell-off in mid-August after its FY25 result and surprise restructure announcement. Two and a half months later, the company's share price dropped another 19.2% to a new low of $170.77 in late-October when it downgraded its FY26 revenue and profit growth guidance.
Have CSL shares finally reached the bottom?
In early-January, the share price dropped even further to an all-time low of $168.29. But it is currently on the strongest upward trajectory seen in months. It looks like we could finally be past the worst for CSL and instead be beginning to see green shoots of recovery.
The company has great growth potential and a strong core business too. Demand for its biotherapies and vaccines has continued to grow globally. Meanwhile, its plasma business operates one of the largest plasma collection networks in the world.
CSL is entering a key investment phase which could help boost its financials. I'd expect that investor confidence will pick up as the company's financials start to accelerate.
Could the shares climb as high as $300 this year?
CSL shares last passed the $300 per share barrier back in October 2024. While I'm optimistic that we'll see a robust upside for CSL shares in 2026, I'm not sure the recovery will be strong and fast enough to return to the same level just yet.
Analysts don't think it'll be far off though.
TradingView data, 14 out of 18 analysts have a buy or strong buy rating on CSL shares. The average target price is $227.08, which implies a potential 24.57% upside at the time of writing.
But some analysts think the shares could climb as high as $263.35 in 2026. This suggests a potential 44.47% upside from the share price at the close of the ASX on Tuesday afternoon.
Morgan Stanley is very positive on its outlook and expects a recovery this year. Meanwhile, the team at UBS think that CSL shares are materially undervalued at current levels.
If everything travels in the right direction and CSL shares reach that broker expectations this year, then I think $300 per share could be possible in 2027. That is unless we see stronger-than-expected company growth, powerful catalysts or a wave of broker re-ratings which propel the biotech's stock higher than expected.
