If you want to strengthen your portfolio, then you might want to consider the blue chip ASX 200 shares listed below.
That’s because these blue chip shares are highly rated by analysts and have been tipped as top buys. Here’s what you need to know about them:
Goodman Group (ASX: GMG)
Goodman Group could be an ASX 200 blue chip share to buy. It is a leading industrial property company with a world class portfolio of assets that span the globe.
Its shares have been strong performers over the last decade, delivering market-beating returns for investors. The good news is that Citi believes this positive trend can continue despite the uncertain macro environment. It commented:
We see potential for GMG to generate consistent high-single to low-double digit earnings growth over the medium term driven by rental upside and longer term development projects, which will add to management and development earnings. The stock currently trades at c. 19x FY24e, below global industrial peers, despite having higher earnings growth and lower leverage. We therefore see upside to the share price and retain Buy.
Citi has a buy rating and $24.30 price target on Goodman’s shares.
Telstra Corporation Ltd (ASX: TLS)
Another ASX 200 blue chip share that is rated as a buy is Telstra. It is of course Australian largest telecommunications company.
Morgans is a fan of the company and believes its shares are good value at current levels. Particularly given how positive trading conditions are at present. It also sees potential for value to be unlocked from asset divestments. The broker said:
Telco has the strongest tailwinds in a decade with an increasingly rational market, price rises across the majors and the criticality of telco increasingly recognised. The last major mobile operator Vodafone/TPG increased mobile prices by ~$5 per month in January 2023 and all key players are behaving economically rational. This combines with catalysts including the potential for InfraCo value release following the legal restructure.
Morgans currently has Telstra on its best ideas list with an add rating and $4.70 price target.
