CSL Limited (ASX: CSL) shares are up 1.2% to $272.89 on the back of a research note out of Goldman Sachs' healthcare desk this morning.
The analysts have crunched the numbers and taken another look at CSL's business lines to come up with a bullish new price target.
According to Goldman's, CSL's core immunoglobulin business is humming along with "market dynamics highly favourable".
The analysts are forecasting three-year compound annual sales growth rates of 13% and 17% for CSL's core Privigen and Hizentra immunoglobulin products.
Overall the analysts have upgraded their earnings per share forecasts by 4% on average though FY 2020 to FY 2022. Goldman's is forecasting CSL to earn US$4.69 per share in FY 2020 to place it on 39.5x FX-adjusted EPS around $6.90.
On the back of the strong immunoglobulin sales, Goldman's is forecasting EPS of US$5.53 in FY 2021 to place it on 33.5x FX-adjusted EPS around $8.14.
Goldman's joins a number of other influential analysts including UBS, Morgan Stanley and Credit Suisse in delivering bullish price targets for CSL.
Goldman's also has a buy rating on ResMed Inc. (ASX: RMD) shares.
