If you would like to bolster your portfolio with some blue chips, then you might want to take a look at these ASX shares.
Here’s why these two blue chip ASX shares are highly rated:
ResMed Inc. (ASX: RMD)
The first blue chip ASX share for investors to consider is ResMed. It is a medical device company with a focus on sleep disorders. It has been a real standout performer over the last decade thanks to its industry leading products and the growing awareness and prevalence of sleep disorders.
The good news is that the company still has a very long runway for growth and has recently bolstered its portfolio with the launch of its AirSense 11 product. This comes at a time when one of its main rivals is busy recalling and fixing millions of competing devices and trying to repair its reputation.
Morgans is positive on the company and currently has an add rating and $41.34 price target on its shares.
SEEK Limited (ASX: SEK)
Another blue chip share to look at is SEEK. It is the leading job listings company in the ANZ region and has a number of growing businesses around the globe.
During the first half of FY 2021, SEEK was dominating the local market and averaging 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 rival.
This has put the company in a great position to benefit from Australia’s recovery from the pandemic. With unemployment levels tipped to fall materially, job ad volumes look set to increase significantly once the economy opens up again.
Macquarie is very positive on SEEK and has an outperform rating and $40.00 price target on its shares.