ASX-listed biotech giant CSL Ltd.’s (AU:CSL) share price has seen a lot of ups and downs in 2023 and ended the year at a gain of 1.74%. CSL is one of the top-value stocks in Australia as per TipRanks’ Best Australian Value Stocks tool, reflecting the long-term growth potential of the stock.
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This tool provides a list of companies listed on the ASX that are currently trading at lower valuations relative to their solid fundamentals, which makes them attractive picks at the current levels. The tool also lets users compare these stocks on key indicators like analysts’ ratings, price targets, dividends, and other parameters.
CSL is a prominent global biotechnology company that manufactures and sells biopharmaceuticals and related products. The company derives a significant portion of its profits from its operations in the U.S.
What’s Happening with CSL Share Price?
In October, the stock touched a low point, triggered by its annual general meeting for 2023, where the company provided an update on its trading conditions, margins, and outlook. Investors were unhappy with the numbers, and the shares traded down by around 30% compared to their peak in 2020 before COVID-19.
Overall, the company maintained its projection for robust constant currency revenue and earnings growth for FY24. The expected revenue growth for the year is between 9% and 11%. The NPATA (Net Profit After Tax and Amortization) is anticipated to be within the range of about US$2.9 billion to $3 billion at constant currency, reflecting a growth of 13% to 17%.
Recently, the stock has recovered and gained around 9% in the last month.
What is the Target price for CSL Shares?
According to TipRanks, CSL stock has a Strong Buy consensus rating based on eight unanimous Buy recommendations. The CSL share price target is AU$317.25, which indicates an upside potential of 10.6% at the current price level.
