CSL Ltd (ASX: CSL) shares are climbing higher again today.
At the time of writing, the ASX biotech shares are up another 5%, and are changing hands for $165.76 a piece.
Today's increase follows a huge 17% share price rally on Tuesday after CSL posted its FY26 results. The day goes down in history as the shares best day in 20 years.
CSL reported total revenue of US$15.8 billion and NPAT of US$2.6 billion. It also recorded a net loss after tax of US$2.6 billion for FY26, coming from pre-tax impairments and restructuring costs.
The result came in way ahead of guidance. In May, the company cut its FY26 revenue guidance to around US$15.2 billion and NPAT to around US$3.1 billion. IT also flagged US$5 billion of impairments.
CSL management describes FY26 as a 'reset year', with FY27 marking a return to growth.
Clearly investors are thrilled with the update, and many are rushing to snap up the shares while they're still trading for cheap.
CSL shares have now rebounded 79% from a multi-year low of $92.24 each in early-June. They're now just 4% lower for the year-to-date, but still around 27% lower than 12 months ago.
Can they keep climbing higher?
Here's what the experts think.
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What's the outlook for CSL shares over the next 12 months?
I think there is a lot of potential for the company to grow over the next few years. CSL is operating in a high-growth market, and its blood plasma division dominates the market for rare blood disorders and immunoglobulin products.
The company's growth initiatives are clearly working, but it's likely it will take a while longer to see the financial benefits.
I think we'll see an upside ahead, but I don't think we'll see a material increase in the share price from here until we get more visibility into the company's earnings over the first half of FY27.
It's possible that some experts could revise their outlook on CSL shares in the coming days, off the back of the company's results announcement.
But at the moment, forecasts suggest that they're on the fence.
Market Index data shows that the majority have a hold rating on CSL shares. The $132 average target price now implies a potential 20% downside, after this week's share price rally.
It's the same case on TradingView. The majority (10 out of 17) have a hold rating on the stock. However, the other seven rate CSL shares as a buy/strong buy.
The average $160.28 target price is higher, but it still implies a potential downside of around 3%, at the time of writing.
However the range between the maximum and minimum target price is quite large. Some tip the shares to climb another 26% to $206.91 but others think CSL shares could drop 35% to just $106.80 over the next 12 months.
