Could FY23 be a good year for the CSL share price?

a nurse wearing a medical mask prepares a patient for a blood donation in a surgical setting.a nurse wearing a medical mask prepares a patient for a blood donation in a surgical setting.

The CSL Limited (ASX: CSL) share price could a strong performer in financial year 2023 (FY23). Indeed, the S&P/ASX 200 Index (ASX: XJO) healthcare giant appears to be a FY23 broker favourite.

The CSL share price outperformed the ASX 200 last financial year, slipping around 5% compared to the index’s 10% tumble.

Could the ASX 200 staple end FY23 in the green? Keep reading to find out what experts are predicting.

Brokers tip growth for CSL share price

The CSL share price could be a FY23 winner, according to brokers and industry experts.

The company operates in two major spaces: Blood plasma and influenza vaccines.

In addition to those businesses, it announced its plan to acquire Swiss biotechnology giant Vifor Pharma in December. The approximately $17 billion acquisition is expected to be completed in coming months.

That means FY23 will likely see the ASX 200 company posting earnings from Vifor Pharma for the first time.

Additionally, rebounding blood plasma collections seemingly bode well for the stock.

One top broker expecting big things from CSL is Citi.

The broker has tipped the stock to lift to $330, slapping it with a ‘buy’ rating, my Fool colleague James reports. Citi believes tough times for plasma have passed, saying:

With plasma collections now back to pre-pandemic levels, we expect the market to shift its focus to the strong underlying plasma product demand. This should lead to strength in the CSL share price.

There’s similar sentiment coming from Morgan Stanley’s camp, where analysts have put an ‘overweight’ rating and a $312 price target on CSL’s stock.

Meanwhile, the team at Macquarie Group Ltd (ASX: MQG) are also expecting the stock to lift to $312.

And the stock has gotten off to a strong start already this financial year. The CSL share price has lifted 10% since the end of June.

The above-mentioned brokers’ expectations represent a further upside of between 5%. and 11%.

The post Could FY23 be a good year for the CSL share price? appeared first on The Motley Fool Australia.

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More reading

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL Ltd. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia

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