If you’re wanting to construct a balanced portfolio, owning a few blue chip ASX 200 shares could be a smart move.
But which blue chip ASX 200 shares should you buy? Two that could be in the buy zone are listed below:
Goodman Group (ASX: GMG)
The first blue chip ASX 200 share to consider is Goodman Group. It is a global property group that owns, develops and manages industrial real estate including logistics and industrial facilities, warehouses, and business parks.
It focuses on high-quality properties in key locations that will benefit its customers now, and in the future, and to deliver sustainable returns for investors.
This strategy has been working wonders. Goodman has been growing at a consistently strong rate over the last decade and looks well-positioned to continue this trend for some time to come. Particularly given its current portfolio and burgeoning development pipeline.
In fact, Macquarie recently suggested that Goodman could achieve double digit earnings growth through until at least FY 2024. As a result, the broker has put an outperform rating and $20.39 price target on its shares.
ResMed Inc. (ASX: RMD)
Another blue chip ASX 200 share to look at is ResMed. It is a leading medical device company with a focus on sleep disorders.
ResMed has a portfolio of industry-leading products and cloud-based solutions that have significant market opportunities. This is being underpinned by the growing awareness of sleep disorders and particularly sleep apnoea.
The company is also well-placed to benefit from the shift to home healthcare thanks to its investments in out-of-hospital platforms in recent years.
Analysts at Credit Suisse are positive on ResMed. They believe the company can also achieve double-digit earnings growth over the medium term. The broker currently has an outperform rating and $29.50 price target on its shares.