3 excellent ASX 200 blue chip shares to buy in 2022

These ASX 200 shares have been tipped as buys…

| More on:
A female ASX investor looks through a magnifying glass that enlarges her eye and holds her hand to her face with her mouth open as if looking at something of great interest or surprise such as the rising Xero share price over the past decade

Image source: Getty Images

If you’re wanting to build a strong portfolio, then having a few blue chips in there could be a good starting point.

But which blue chip ASX 200 shares could be in the buy zone for 2022? Here are three to consider:

Qantas Airways Limited (ASX: QAN)

Times may be hard for the airline operator because of COVID-19, but a number of brokers remain very positive on the investment opportunity here. This is due largely to the belief that Qantas will come out the other side of the pandemic in an even stronger position. One of those is the team at UBS. It is very positive on the company and recently put a buy rating and $6.20 price target on its shares. This compares to the latest Qantas share price of $4.94.

Telstra Corporation Ltd (ASX: TLS)

Another blue chip ASX 200 share to consider is Telstra. After a lengthy period of underperformance caused by the NBN rollout, the telco giant is now expecting to return to growth again in the coming years. In fact, Telstra’s new T25 strategy is targeting mid-single digit underlying EBITDA and high-teens underlying earnings per share (EPS) compound annual growth rates (CAGR) from FY 2021 to FY 2025. This has many analysts believing that Telstra will soon be able to increase its dividend for the first time in almost a decade. Goldman Sachs has a buy rating and $4.40 price target on its shares. This compares to the current Telstra share price of $4.15.

Westpac Banking Corp (ASX: WBC)

A final blue chip ASX 200 share that could be in the buy zone is Westpac. Its shares have recently been sold off amid concerns over its margin outlook due largely to aggressive competition for home loans. While its outlook is undoubtedly softer than hoped, the team at Morgans believe the selloff has been an overreaction. In light of this, the broker feels its shares offer compelling value for investors at present. Morgans has an add rating and $29.50 price target on the company’s shares. The Westpac share price last traded at $21.20.

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 over ten 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 January 12th 2022

Motley Fool contributor James Mickleboro owns Westpac Banking Corporation. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Blue Chip Shares

A group of people in suits watch as a man puts his hand up to take the opportunity.
Blue Chip Shares

2 ASX blue-chip shares this top fund manager thinks are good value

Wilson Asset Management offers its thoughts on a couple of blue-chip shares.

Read more »

A women cheers with clenched fists having read some good news on her laptop.
Blue Chip Shares

2 top blue chip ASX 200 shares to buy now according to experts

These blue chip ASX 200 shares could be buys...

Read more »

Red buy button on an apple keyboard with a finger on it.
Blue Chip Shares

Brokers name 2 ASX 200 blue chip shares to buy

These blue chip shares are rated highly by analysts...

Read more »

Woman with money on the table and looking upwards.
Dividend Investing

2 ASX dividend shares I’d buy with $1,000

Brickworks and Wesfarmers are two of the leading ASX dividend shares I’d consider.

Read more »

A man with a yellow background makes an annoncement, indicating share price changes on the ASX
Broker Notes

Broker names 3 more ‘champion’ ASX 200 shares to buy and hold

Here are three more "champion stocks" for buy and hold investors...

Read more »

a woman holds a facebook like thumbs up sign high above her head. She has a very happy smile on her face.
Blue Chip Shares

Broker names 2 of the ‘best’ blue chip ASX 200 shares to buy now

These ASX 200 shares are rated highly by a leading broker...

Read more »

Three people in a corporate office pour over a tablet, ready to invest.
Blue Chip Shares

2 strong blue chip ASX 200 shares to buy after the market selloff according to analysts

These blue chip shares could be buys...

Read more »

three businessmen high five each other outside an office building with graphic images of graphs and metrics superimposed on the shot.
Blue Chip Shares

2 ASX 200 shares that analysts say are buys

Here are two ASX 200 shares to buy...

Read more »