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2 top ASX blue chip shares to buy

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If you’re looking to firm up your portfolio with the addition of some ASX blue chip shares, then you might want to take a look at the two listed below.

Here’s why these ASX blue chips come highly rated right now:

Ramsay Health Care Limited (ASX: RHC)

Trading conditions certainly have been tough for Ramsay Health Care in 2020 because of the pandemic. However, thanks to it world class network of private hospitals, favourable industry tailwinds, and growth through acquisition strategy, management remains very positive on its long term prospects.

With its Q1 update, Ramsay’s Managing Director and CEO, Craig McNally, commented: “Ramsay is well positioned to capitalise on the shifting industry dynamics in each of our key markets. Following the recent equity raising, the Company has a strong balance sheet to support new opportunities as they arise.”

Analysts at Macquarie agree with this view and recently retained their outperform rating and lifted the price target on its shares to $73.65. The broker remains positive on the future and believes it is well positioned for long term growth.

SEEK Limited (ASX: SEK)

SEEK is the ANZ region’s largest job listings company. It has been growing at a consistently strong rate over the last decade thanks to its dominant position in the local market, its investment in growth opportunities, and its quick growing Zhaopin business in China.

Given the size of the China market, the latter business is becoming an increasingly important part of the SEEK business and looks set to be a key driver of growth in the 2020s. It is partly because of this that management has set itself an ambitious aspirational revenue target of $5 billion later this decade. This will be more than triple what it recorded in FY 2020.

Credit Suisse likes what it sees here. Earlier this month its analysts retained their outperform rating and lifted their price target on this job listings company’s shares to $28.50.

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

Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia has recommended Ramsay Health Care 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.

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