Why brokers think CSL shares could be on track for $200

CSL Ltd shares have clawed back serious ground in recent months, climbing 10% over the past month and 29% over the past six months. The ASX biotech stock remains 12% below where it stood a year ago.

Clearing it won't be a gimme. The $85 billion healthcare giant still has to prove it can deliver on several fronts before that milestone becomes more than just a broker's spreadsheet fantasy.

CSL has laid out the roadmap. Now it just has to walk it.

Everything starts with CSL Behring, by far the group's biggest business and the one that's caused the most headaches. After a rough patch, management is now promising a return to mid-single-digit revenue growth in FY27, with immunoglobulin sales expected to climb at a mid-to-high single-digit clip.

Demand for immunoglobulin remains strong, and CSL is squeezing more out of its plasma collection and manufacturing process at the same time.

CSL isn't relying on Behring alone.

CSL's transformation program has actual receipts.

CSL expects Vifor revenue to fall about 25% in FY27, affected by generic competition in iron products.

In September, RBC Capital Markets upgraded CSL to outperform and hiked its price target from $148 all the way to $213.

In a notice of annual general meeting lodged with the ASX last week, CSL chair Brian McNamee said the search for a new Chief Executive Officer was well-advanced, though still ongoing.