CSL Limited Announces Growth To Continue Into The Future

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CSL Limited Announces Growth To Continue Into The Future

  • CSL has reported that revenues are expected to grow between 2-5%, with net profit after tax landing between $2.15 billion AUD and $2.25 billion AUD.
  • CSL Limited (CSL) is a global biotechnology company that develops and delivers innovative medicines.
  • CSL Limited (ASX: CSL) expects continued growth going forward into the future which is only good news for investors.

CSL is one of the largest shares in the S&P/ASX 200 Index (ASX: XJO). It was the largest share for a while last year, pipping Commonwealth Bank of Australia (ASX: CBA) and BHP Group Ltd (ASX: BHP). As it stands today, CSL is the ASX 200’s No. 2 share, recently overtaking BHP, which has been suffering due to falling iron ore prices. Headquartered in Melbourne with offices also in Sydney, United Kingdom, Germany, Switzerland, and The United States of America, CSL has become one of Australia’s leading medical success stories, becoming a world-renowned leader in the field of biotechnology since being spun off from the Commonwealth of Australia back in 1994 and privatised.

CSL used to be known as one of the ASX’s top growth shares. Its share price exploded over 2017, 2018, and 2019, but has been struggling more recently in the shadow of the pandemic. This is due to lesser demand for certain medications that CSL and its Family of brands manufactures and distributes and, it’s potential deal to produce COVID-19 vaccinations in Australia which fell through late last year due to concerns due to quality.

CSL previously noted in its full-year results that it sees FY22 as a transitional year. This reflects strong demand for its portfolio of therapies and vaccines, offset by plasma collection headwinds. A number of brokers rated the company’s shares following CSL’s FY21 scorecard. Multinational investment firm Goldman Sachs cut its price target by 1% to $302, while Morgan’s had a more bullish outlook. The latter raised its 12-month view by 7.7% to $324.40. Based on the current share price, this implies an upside of around 13% on Morgan’s assessment.

When looking from this time last year, the CSL share price has moved in circles, registering nil gains. The same can be said for 2021 year to date, where the company has failed to live up to its traditional expectations. CSL commands a market capitalisation of $130.62 billion, making it the second-largest company on the ASX and this doesn’t seem likely to change with many brokers indicating analysis suggesting around at least Eight Percent growth in the next financial year post COVID-19 Pandemic.

Things are only looking better and better for the CSL share price for both the short term and long term with continued improving conditions in Australia and Overseas for it’s Family of products and the easing of continued COVID-19 Pandemic related restrictions globally, CSL’s share price can return to being a shining star of the ASX once again in 2022.

Caroline Wong

Caroline Wong is a Research Analyst at KOSEC – Kodari Securities. She writes on markets and focuses on ASX Top 300 companies. Email Caroline at c.wong@kosec.com.au.

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