Why are CSL shares grabbing limelight today?

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Why are CSL shares grabbing limelight today?

 Why are CSL shares grabbing limelight today?
Image source: Hparatlala, Shutterstock.com

Highlights

  • The CSL shares have been underperforming in 2021.
  • Analysts see CSL shares as a good investment opportunity despite its underperformance.
  • The stock has slipped by 4% in the last 12 months.

The shares of CSL Limited have been underperforming in 2021. The shares of the company have increased by 1.5% to AU$289.65 -- way lower than 9% gain seen by the ASX200 index during the same period.

business graph

Representative Image Source: © Jirsak | Megapixl.com

While the underperformance of CSL shares has been disappointing, analysts see it as a good investment opportunity as the stock is likely to get accelerated soon.

RELATED READ - Why WBC, NCM, CSL, WOR, TLS on investors radar today?

Analysts have a buy rating over CSL shares with a price target of AU$324.40. According to current share price of this stock, analysts suggest a potential upside of approximately 12% for the investors. CSL shares have a current potential of trading in or around AU$325 mark by the year end.

About CSL Limited (ASX:CSL)

CSL is an ASX listed pharma, cell culture media, human plasma and diagnostic products manufacturer, developer, and marketer with a market worth of AU$131 billion.

According to CSL’s FY21 annual report –

  • The company reported a net profit after tax of US$2.375 billion, up 13% from the prior year and dividend of US$2.22 per share for FY2021.
  • Group’s earnings per share stood at US$5.22 for the year ended on 30 June 2021.
  • Despite COVID-19 challenges, the company’s revenue for the year stood at AU$10.31 billion.

CSL share price movement

The stock has surged roughly by2.88% over the last quarter, as it started at a price of AU$285.19 on 1 July and finished up at AU$293.40 on 30 September.

The stock is up 1% year to date in FY2021 however, the share is still down by 4% over the last 12 months.

On 12 October, CSL shares were trading 1.923% higher at AU$293.030 at 2:38 PM AEST.

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