What are brokers saying about the CSL share price in May?

ResMed share price healthcare asx share price flat represented by doctor shrugging

ResMed share price healthcare asx share price flat represented by doctor shrugging

The CSL Limited (ASX: CSL) share price is having a decent year so far.

Since the start of 2023, the biotherapeutics giant’s shares have risen almost 5% to close at $301.27 on Monday.

This compares favourably to the ASX 200 index and its 3.4% gain.

The big question now, though, is can the CSL share price keep rising?

In order to answer this question, let’s take a look at what brokers are saying about the company’s shares.

Can the CSL share price keep rising?

Well, I have good news for you. All the major brokers believe the CSL share price has room to climb from current levels.

Here’s a summary in alphabetical order:

The team at Citi currently has a buy rating and $350 price target on the company’s shares. This implies potential upside of over 16% for investors over the next 12 months. Incidentally, this is the highest price target that I have seen.

Goldman Sachs is sitting on the fence at the moment with its neutral rating and $314.00 price target. This suggests the CSL share price could rise a little over 4% from here. Not great, but a gain is a gain.

Moving on, Macquarie is a fan and currently has an outperform rating and $344.00 price target on its shares. If it reached this level, it would mean a gain of just over 14%.

Analysts at Morgan Stanley are also positive on CSL. They currently have an overweight rating and $339.00 price target, which implies potential upside of 12.5% for investors.

Finally, Morgans is another broker that is bullish on the company. It currently has an add rating and $337.92 price target on its shares. This would mean a 12% gain if the CSL share price climbed to this level.

All in all, it seems that now is a good time to be a shareholder of this biotherapeutics leader if brokers are on the money with their recommendations.

The post What are brokers saying about the CSL share price in May? appeared first on The Motley Fool Australia.

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More reading

Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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