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3 top blue chip shares I would buy today

Due to their subdued growth outlooks, many investors are avoiding popular blue chip shares such as Commonwealth Bank of Australia (ASX: CBA) and Telstra Corporation Ltd (ASX: TLS).

While that may prove to be the smart thing to do in respect to those two shares, I don’t think investors should avoid all blue chips.

I feel the three blue chips listed below could be great options for investors right now. Here’s why:

CSL Limited (ASX: CSL)

If I were to buy only one blue chip share I would make it CSL. Over the last decade it has been one of the most consistent performers on the market. During this time it has generated strong earnings growth and equally strong returns for its shareholders. I expect the next decade will be very similar for the biopharmaceutical company due to its strong core business, large pipeline of new products, and the emergence of its influenza business.

REA Group Limited (ASX: REA)

Another blue chip share that I would consider buying with a long term view is this property listings company. There were concerns that a cooling housing market would stifle the company’s growth, but it has allayed concerns by recently revealing an impressive start to FY 2019. In the first quarter of FY 2019 REA Group delivered a 17% increase in revenue to $221.9 million and a 23% lift in EBITDA to $130.9 million. This was driven by price changes which took effect from July 1, an improved product mix, and further depth penetration.

ResMed Inc. (ASX: RMD)

The third and final blue chip share I would buy right now is ResMed. The sleep treatment-focused medical device company has been a consistently strong performer over the last decade and created significant wealth for shareholders. Pleasingly, with the sleep treatment market expected to continue its growth over the next decade, ResMed appears to be well-positioned to continue its strong form for many years to come.

If you like ResMed then I think you’ll love the five shares revealed below.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia has recommended REA Group Limited and ResMed Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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