Can the CSL share price regain its 52-week high in 2022?

It’s been many moons since we last saw a 52-week high for the CSL Limited (ASX: CSL) share price. Today, shares of the ASX 200 healthcare giant are going for $296.90 each at the time of writing, down by 0.58% over the session so far.

But we have to backtrack to November last year to find the last time this company was hitting new highs. Back in late November, we saw the CSL share price hit a high of $319.78 per share.

That is the company’s reigning 52-week high – a level we haven’t seen the company even approach since. In fact, it was only three months or so later that CSL was hitting a new 52-week low of $240.10 per share.

So today, CSL shares are close to the middle of this 52-week range.

This begs the question: what’s next for the CSL share price? Will we be heading back to the company’s 52-week high in 2022?

Is the CSL share price heading back to its 52-week high in 2022?

Well, one ASX broker reckons CSL is in with more than a chance. As my Fool colleague James covered just yesterday, broker Citi is expecting big things from the ASX 200 healthcare share. Citi likes what it sees with CSL’s recent acquisition of Vifor Pharma and its development pipeline.

The broker rated CSL a buy, with a 12-month share price target of $340. Not only is that target well above CSL’s current 52-week high, but it is also tantalisingly close to the company’s all-time high of $342.75 a share.

Indeed, if this price target came to pass, it would mean an upside of more than 14% on the current CSL share price. But since this target is a 12-month one, we can’t say the broker is expecting a new high by the end of this year.

Even so, no doubt investors will welcome that news. But we’ll have to wait and see if Citi’s projections prove accurate, as always.

In the meantime, CSL shareholders can now look forward to receiving the company’s final dividend of $1.758 per share which will be paid out next month on 5 October.

At the current CSL share price, this ASX 200 healthcare share has a market capitalisation of around $144 billion, with a dividend yield of 1.04%.

The post Can the CSL share price regain its 52-week high in 2022? appeared first on The Motley Fool Australia.

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More reading

• Experts name 2 blue chip ASX shares to buy that Warren Buffett would love
• The CSL dividend just got updated. How much will you be getting?
• The CSL share price is still trading just 10% above its COVID-crash low. Is it a buy?
• Fundie reveals the 2 ASX shares he’d buy and hold for 4 years
• Should all ASX investors be buying defensive shares right now?

Motley Fool contributor Sebastian Bowen has positions in CSL Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL Ltd. 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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