Are you looking for some blue chip ASX shares to buy in October? Well, the three listed below could be great options for a balanced portfolio.
Here’s why I think these are blue chip ASX shares to buy:
Domino’s Pizza Enterprises Ltd (ASX: DMP)
I think Domino’s Pizza could be a great blue chip option for investors. Domino’s was a very strong performer over the 2010s and looks well-placed to repeat its heroics over the next decade. This is thanks to its strong brand and management’s long term growth targets. In respect to the latter, Domino’s is aiming deliver same store sales growth of 3% to 6% per annum over the coming years. And longer term, it is looking to grow its store network to a sizeable 5,500 stores by 2033. This is more than double the 2,668 stores it had at the end of FY 2020. If it delivers on this, then it should underpin strong earnings growth over the 2020s.
REA Group Limited (ASX: REA)
Another blue chip share I would buy is REA Group. It is the dominant property listings company in the ANZ region and has a number of growing businesses in other regions. While there’s no doubt that its performance in FY 2021 is likely to be impacted meaningfully by a reduction in listings because of the pandemic, I’m confident that this is just a short term headwind and its growth will accelerate once the crisis passes. This could make it worth considering a long term and patient investment in REA Group shares.
SEEK Limited (ASX: SEK)
A final blue chip share to consider buying is SEEK. This job listings giant is one of my favourite blue chips due to its very positive long term outlook. This is thanks to its domination of the ANZ market and the incredible growth potential of its China-based Zhaopin business. Over the last few years Zhaopin has established itself as one of the leaders in the massive Chinese online job listings market. Combined, I believe SEEK can deliver strong earnings growth over the next decade and beyond.
Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now
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
Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia has recommended Domino's Pizza Enterprises Limited, REA Group Limited, and SEEK 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.
- Top brokers name 3 ASX shares to sell today – October 22, 2020 2:28pm
- Why Domino’s, Oil Search, Resolute, & Zip shares are dropping lower – October 22, 2020 1:20pm
- MyDeal (ASX:MYD) share price rockets 120% higher following IPO – October 22, 2020 12:56pm