2 buy-rated ASX 200 blue chip shares

SEEK Limited (ASX:SEK) and this blue chip ASX share have been rated as buys. Here’s what you need to know about them…

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A businessman lights up the fifth star in a lineup, indicating positive share price for a top performer

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The illustrious S&P/ASX 200 Index (ASX: XJO) is home to a good number of shares with true blue chip status. So many, it can be hard to decide which ones to include in your portfolio.

In order to narrow things down, I have picked out two blue chip ASX 200 shares which are highly rated right now. They are as follows:

ResMed Inc. (ASX: RMD)

The first blue chip ASX 200 share to look at is ResMed. It is a sleep treatment focused medical device company with a portfolio of world class products.

But it certainly isn’t resting on its laurels. Later this year the company will be releasing its AirSense 11 CPAP device. This device has been tipped as the catalyst for a new upgrade cycle and is expected to be a key driver of growth in the coming years.

In addition to this, the company’s increased investment in its out-of-hospital platforms leaves it uniquely placed to benefit from the pandemic-driven shift to home healthcare.

It is partly for these reasons that analysts at Credit Suisse are so positive on the company. A recent note reveals that its analysts have put an outperform rating and $29.00 price target on the company’s shares. This compares favourably to the current ResMed share price of $24.65.

SEEK Limited (ASX: SEK)

Another blue chip ASX 200 share to consider is SEEK. It is the leading job listings company in the ANZ region and has a number of growing businesses around the globe.

SEEK looks well-placed to benefit greatly from Australia’s economic recovery from the pandemic. Particularly given its domination of the local jobs market.

At the end of December, SEEK ANZ had 16 million candidate profiles, 35 million monthly visits, and 160,000 active hirers. This led to the company having almost a third of all placements in the region, which is five times greater than its nearest competitor.

UBS is a fan of the company and believes it is well-placed for growth. Last week it put a buy rating and $34.50 price target on its shares. This compares to the latest SEEK share price of $29.48.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ResMed Inc. and SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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