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Why I would buy CSL and these ASX 200 blue chip ASX shares

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If you’re looking to add a few ASX 200 blue chip shares to your portfolio in August, then the three listed below could be worth considering.

I believe these blue chips could generate solid returns for investors over the next few years. Here’s why I would buy them:

CSL Limited (ASX: CSL)

The first blue chip I would buy is this global biotherapeutics company. I think it has the potential to provide investors with strong returns over the next decade, especially after recent weakness in the CSL share price. This has been caused by concerns over plasma collections during the pandemic and the impact this could have on its FY 2021 results. However, I’m optimistic this will be offset by other sides of the business, such as flu vaccine sales. In light of this, I think investors should focus on the long term, which remains very positive. This is due to its leading therapies and lucrative research and development pipeline.

Goodman Group (ASX: GMG)

Another blue chip ASX 200 share to consider buying is Goodman Group. It is an integrated commercial and industrial property group with a high quality portfolio of assets. It remains my favourite option in the property sector due to its exposure to industries benefiting from structural tailwinds such as ecommerce. These assets are likely to be in demand for many years to come, which I believe leaves it well-positioned for solid long term growth.

REA Group Limited (ASX: REA)

A final option to consider buying is this property listings company. Times have been hard to REA Group over the last few years, but thanks to its high quality business model, it has still managed to deliver strong profits. And although the tough trading conditions are likely to remain for at least the next couple of quarters, I wouldn’t let that put you off investing. I expect REA Group’s growth to accelerate materially once things return to normal. Especially given its leadership position, growing global operations, new revenue streams, potential price increases, and cost cutting.

These 3 stocks could be the next big movers in 2020

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 6/8/2020

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has recommended REA Group Limited. 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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