With the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) sitting just above 5,500 points, many investors are choosing to remain on the sidelines and wait for a significant fall to buy their stocks. While it is a good idea to keep some money for a rainy day, it is also important to remember that there are always attractive opportunities in any market.
That is, although a number of stocks might seem expensive right now, there are others which would still make for excellent buys. Here are three blue-chip stocks which you could add to your portfolio today…
1) Crown Resorts Ltd (ASX: CWN): The gaming and entertainment company has been out of the market's favour this year, having tumbled 14.5% since its January peak. Crown's shares offer plenty of growth potential, both in Australia and overseas, as well as a 2.4% dividend yield (franked to 50%).
2) Coca-Cola Amatil Ltd (ASX: CCL): The beverage manufacturing giant is also sitting well below the heights it reached last year, thanks to pricing pressures from competitors and the supermarket giants as well as inflationary pressures in Indonesia. While the issues could certainly continue to hurt CCA over the short term, the long term is still looking as bright as ever. Its 5.5% dividend yield (based on 2015 forecasts) makes it even more appealing.
3) Westfield Corp (ASX: WFD): As a result of the Westfield restructure, Westfield Corp now owns and manages all of Westfield's international assets. While this offers strong growth potential all over the world, it also gives shareholders excellent exposure to the recovering US and UK economies. Shares are currently trading at $7.47 and will continue to benefit as the Aussie dollar falls.
