2 outstanding ASX 200 blue chip shares named as buys for August

These blue chips could be in the buy zone…

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If you’re looking for lower risk options to invest your money into, then blue chip shares could be worth considering.

With that in mind, I have picked out two top blue chip ASX 200 shares that have been rated as buys. They are as follows:

BHP Group Ltd (ASX: BHP)

Having a little exposure to the resources sector could be a good thing for investors looking for diversification. And if you’re looking at mining shares, it is hard to look passed the Big Australian. It is one of the most popular options in the space and it isn’t hard to see why.

The mining giant has a diverse portfolio of world class operations that are benefiting greatly from both strong demand and pricing for commodities.

Macquarie expects this to underpin very strong profits and dividends in the near term. As a result, the broker has put an outperform rating and $60.00 price target on its shares. This compares to the latest BHP share price of $53.49.

Goodman Group (ASX: GMG)

Another blue chip ASX 200 share to look at is Goodman Group. It is a leading integrated commercial and industrial property company with $52.9 billion of total assets under management globally.

It has a world class portfolio comprising warehouses, large scale logistics facilities, and business and office parks. These properties are in demand and count some of biggest companies in the world as tenants. This demand led to Goodman reporting a 98% occupancy rate at the end of the third quarter.

Looking ahead, the company appears well-placed to benefit from like for like rental growth and its significant development pipeline.

Credit Suisse is a fan of the company and expects its solid growth to continue for the foreseeable future. It currently has an outperform rating and $24.15 price target on its shares. This compares to the current Goodman share price of $22.64.

Wondering where you should 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 could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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