Shares of CSL Ltd (ASX: CSL), one of Australia’s leading biotechnology companies, have soared to a new 52-week high, marking a significant milestone. Today, the ASX 200 Index also achieved a record pinnacle, hitting an all-time high of 8,037.3 points, with shares across the board, including those of CSL Ltd, climbing by 0.73%.
CSL Ltd, ranking as Australia’s third-largest listed company, has seen its shares ascend to a 52-week high of $311, before closing out at $308.56. This represents a hefty 7.03% increase on a YTD basis. Despite this outstanding performance, CSL’s shares have yet to surpass their previous all-time high of $342.72, last seen in February 2020. This suggests there may still be room for growth, and buyers seem to remain optimistic about the company’s trajectory.
Amidst this preferred outlook, leading brokerage firms, including Bell Potter and Macquarie, have expressed their confidence in CSL’s earnings growth potential. Both have rendered a buy rating for CSL, with a 12-month share price target of $330. This bullish sentiment signifies the anticipation of continued upward movement for CSL shares in the marketplace.
Closing the trading day at $308.56, CSL’s share price edged up by 0.64%, emblematic of the steady investor confidence that has buoyed the stock over the past twelve months. With a gain of 19.22% within this period, CSL has demonstrated a robust performance in the market, rewarding shareholders and fanning enthusiasm amongst potential investors.
Don’t Buy Just Yet
You will want to see this before you make any decisions.
Top Australian Brokers
- City Index - Aussie shares from $5 - Read our review
- Pepperstone - Trading education - Read our review
- IC Markets - Experienced and highly regulated - Read our review
- eToro - Social and copy trading platform - Read our review
Before you decide which shares to add to your portfolio you might want to take a look at this special report we recently published.
Our experts picked out The 5 best ASX shares to buy in 2024.
We’re giving away this valuable research for FREE.
Click below to secure your copy