The S&P/ASX 200 Index (ASX: XJO) is home to a large number of blue chip shares for investors to choose from.
This can make it hard to decide which ones to buy over others.
In order to narrow things down, I have picked out four top ASX blue chip shares which I think would be great options for investors today.
Here’s why I would buy them:
Coles Group Ltd (ASX: COL)
The first blue chip to consider buying is Coles. I think it could be a great option due to the solid growth potential it has thanks to its defensive earnings, expansion opportunities, and its refreshed strategy. In respect to the latter, Coles’ Smarter Selling pillar of its refreshed strategy is aiming to deliver $1 billion in cumulative savings by FY 2023. This will be driven by initiatives including the use of technology to automate manual tasks and simplifying above-store roles to remove duplication.
Goodman Group (ASX: GMG)
Another blue chip to buy is this commercial and industrial property company. I’m a big fan of Goodman due to the strength of its portfolio and future property developments. I believe these have left the company well-placed to deliver solid long term earnings and dividend growth. Especially given their exposure to growth markets such as ecommerce through relationships with Amazon, DHL, and Walmart.
SEEK Limited (ASX: SEK)
Another blue chip ASX share that I would buy is SEEK. I think the job listings company would be a great option due to both its dominant position in the ANZ market and its growing China-based Zhaopin business. Together, I believe they have put SEEK in a position to achieve its aspirational revenue target of $5 billion later this decade. This will be a significant increase on the revenue of $1,577.4 million it delivered in FY 2020.
Telstra Corporation Ltd (ASX: TLS)
A final blue chip share to consider buying is Telstra. I like the telco giant due to its attractive valuation and the solid progress it is making with its T22 strategy. This strategy is creating a much leaner operation and one which I believe could return to growth in not so distant future. Particularly given the easing NBN headwind and the arrival of 5G internet. The latter could give Telstra’s mobile revenues a major boost in the coming years.
Where to invest $1,000 right 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.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
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 owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET. 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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