Have you got room for a blue chip or two in your portfolio? If you have, then take a look at the excellent ASX 200 blue chip shares listed below.
Here's why they are highly rated:
CSL Limited (ASX: CSL)
The first blue chip ASX 200 share for investors to look at is CSL. It is one of the world's leading biotechnology companies, comprising the CSL Behring and Seqirus businesses. Both are leaders in their respective fields – plasma therapies and vaccines.
And while COVID headwinds have been weighing on plasma collections over the last two years, CSL appears well-placed for growth once conditions ease. Particularly given strong demand for its immunoglobulins and vaccines, and its lucrative R&D pipeline. The latter is full of potential therapies that could boost sales materially in the future. CSL has also recently announced the proposed acquisition of Vifor Pharma, which will boost its offering in other lucrative markets.
Citi is a fan of CSL. It recently upgraded the company's shares to a buy rating with a $340.00 price target. This compares favourably to the most recent CSL share price of $262.57
ResMed Inc. (ASX: RMD)
Another blue chip ASX 200 share to look at is ResMed. It is a medical device company with a focus on the growing sleep treatment market.
Management estimates that there are over 1 billion people globally that suffer from sleep apnoea. However, the vast majority of these people are yet to be diagnosed. This gives ResMed a significant market opportunity to grow into as awareness grows and more and more sufferers are diagnosed.
Especially given its industry-leading products, wide distribution network, and investment in research and development. The latter has led to the development of its new CPAP device, AirSense 11. This device appears to have cemented its leadership position, particularly given how one of its biggest rivals is currently dealing with a significant product recall of 5.2 million CPAP devices.
Credit Suisse is very positive on the company and recent retained its outperform rating and $43.00 price target. This is notably higher than the latest ResMed share price of $32.73.
