The CSL Ltd (ASX: CSL) share price has risen an incredible 48% in the past six months, as the chart below shows. As it recovers lost ground, it's worth asking whether the ASX healthcare share giant can continue to rise.
Healthcare is sometimes seen as a defensive, predictable industry. The CSL share price has been a rollercoaster as investors digest that earnings growth has been harder for the company to generate.
With the company now forecasting earnings growth, there appears to be light at the end of the tunnel for investors hoping for rising profits. Let's look at whether analysts believe the business is still undervalued or has risen as far as it can sustainably under the current circumstances.
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CSL share price target
A price target is the level analysts expect the business to reach 12 months from the investment professional's call. Of course, they don't have crystal balls to know what's going to happen; they are just forecasts based on the current valuation and earnings expectations.
According to CMC Invest, there have been 11 ratings on the business within the last three months. Six of those analyst calls were a buy rating and five were a hold rating.
However, the average CSL share price target of those 11 analysts was $183.71. At the time of writing, that implies a possible 6% decline over the next year.
The most optimistic price target is $214.96, suggesting a possible 10% rise. But, the most negative price target is $149.97, suggesting a possible 23% decline.
Overall, over the next year, it seems that analysts don't think the CSL share price can rise much more than it has.
Profit growth expected
The 2026 financial year was a difficult period for CSL. Total revenue declined 1% to US$15.8 billion, underlying net profit declined 2% to US$3.1 billion, operating cash flow fell 1% to US$3.5 billion and the reported bottom line was a net loss of US$2.6 billion.
CSL said that for FY27, it expects revenue to be in line with FY26, while underlying net profit after tax (NPAT) is expected to grow by approximately 5%.
That guidance is despite the expectation that CSL Vifor could see revenue decline by approximately 25%, driven by generic competition in iron products, the conclusion of the TDAPA period for VELPHORO and the revocation of the marketing authorisation for TAVNEOS.
CSL Behring expects mid-single-digit revenue growth, with Ig (immunoglobulin) growth in the mid-to-high single digits, in line with the market. It will continue to focus on core plasma collection efficiency and manufacturing productivity.
Meanwhile, CSL Seqirus expects low-single-digit revenue growth – immunisation rates in the US are expected to decline, but at a slower rate than recent seasons.
Overall, it's looking a bit more positive for CSL – earnings growth is positive, though the valuation may mean it's better to look at other ASX share opportunities.
