Image source: Getty Images
There is certainly no shortage of blue chips in the Australian share market. But which ones are better to buy than others?
To help narrow down the targets, below are the top two ASX 200 blue chip stocks that experts rate as buys. They are as follows:
The first ASX 200 blue chip stock to consider is CSL. It is one of the world’s leading biotech companies and the name behind CSL Behring and Seqirus. CSL Behring is the world leader in plasma therapy, while Seqirus is the number two player in the global influenza vaccine industry.
CSL has also just completed the acquisition of Vifor Pharma. The business, now known as CSL Vifor, is a world leader in specialty pharmaceuticals in the fields of iron deficiency, nephrology (kidney support) and cardiorenal therapy.
All three companies appear well-positioned for long-term growth thanks to their high-quality products and profitable research and development. In addition, the improvement of plasma collection conditions should be a boost for the company’s profitability in the near term.
Citi rated CSL positively and currently has a buy rating and a $340.00 target price on the stock.
Another ASX 200 blue chip stock to buy is Goodman Group.
It is a leading integrated commercial and industrial real estate company with a portfolio of high quality properties. Many of these facilities are in key emerging markets such as e-commerce and logistics, where demand is particularly high. This has underpinned stellar earnings growth in recent years.
The Goldman Sachs team believes this strong form can continue thanks to “a number of favorable fundamentals underpinning future long-term demand for industrial space.” For example, it is expected to grow operating earnings per share by ~17% in FY2023.
Goldman has a buy rating and a $25.40 target price on the stock.