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Brokers call 2 shares of ASX 200 blue chips to buy


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Famous S & P / ASX 200 index (ASX: XJO) is home to a large number of quality stocks of blue chips.

There are actually so many that it can be difficult to decide which ones to include in your portfolio.

To narrow things down, below are two stocks with blue ASX 200 chips that now have a high rating. They are as follows:

The first ASX 200 stock with blue chips to look at is the REA Group, which serves real estate.

Over the past decade, he has consistently matured, despite what has been thrown at him by the economy or the housing market. The good news is that this trend is expected to continue, and the REA forecasts growth in the second half of the 2022 fiscal year, despite declining listing volumes. Management expects that this will be backed by higher profitability of residential and commercial facilities, backed by rising contract prices and increased penetration depth.

Thus, if the share price of REA fell by a third in 2022, now may be the time to get the patient to buy and keep the investment. This is the opinion of Goldman Sachs, which recently reaffirmed its buying rating with a target price of $ 164.00.

Westpac Banking Corp. (ASX: WBC)

Another stock with blue 200 ASX chips that is worth a look is Westpac. The company recently published half-year results and found a 8% drop in revenue to $ 10,230 million, a 12% drop in cash income to $ 3,095 million and an interim dividend of 61 cents per share.

Although it is weaker on an annualized basis, it is still favorable compared to Visible Alpha’s consensus estimate for first-half cash earnings of $ 2.8 billion and interim dividends of 59 cents per share.

But the big news was that Westpac was reiterating its plans to cut costs. Australia’s oldest bank is looking to reduce its excellent base to $ 8 billion by fiscal year 2024. This compares to operating expenses of $ 13.3 billion in fiscal year 2021. However, these figures include $ 2.3 million of notable articles.

This went well for Citi analysts. In fact, its analysts believe Westpac could deliver “the strongest earnings per share growth in the sector” in the coming years.

In light of this, analysts set the bank’s shares a purchase rating and a target price of $ 29.00.


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