The CSL Limited (ASX: CSL) share price has continued its recovery on Tuesday.
In morning trade, the biotherapeutics company's shares are up 2.5% to $295.01.
This means the CSL share price is now trading flat in 2022, which compares favourably to the ASX 200 index's 12.5% decline.
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Can the CSL share price keep rising?
The good news for investors is that a number of brokers still see plenty of upside in the CSL share price.
One of those brokers is Citi, which has a buy rating and $330.00 price target on the company's shares. This implies almost 12% upside for investors over the next 12 months.
Its analysts believe plasma collection headwinds are largely over and that demand should now be the key focus. And with demand remaining strong, it feels this bodes well for its shares. It recently commented:
Recently, there have been several data points influencing our view on the plasma sector. In this report, we review them and the implications for the sector as a whole. US CMS data indicates continued price increases in immunoglobulin products. This is consistent with our expectation, as donor fees continue to remain elevated.
Underlying demand for plasma products remains strong but supply is constrained due to low plasma collection volume. With plasma collections now back to pre-pandemic levels, we expect the market to shift its focus to the strong underlying plasma product demand. This should lead to strength in the CSL share price.
Elsewhere, last week analysts at Macquarie and Morgan Stanley both retained their equivalent of buy ratings with $312.00 price targets.
Macquarie also highlights that plasma collections have been improving and were largely in line with pre-COVID levels last month. This was even the case in Texas despite restrictions on paid donations by Mexican citizens. It feels this bodes well for its earnings growth in the coming years.
