The Australian share market is home to a good number of high quality blue chip shares for investors to choose from.
Two blue chip ASX 200 shares that could be worth considering as additions to your portfolio right now are listed below. Here's why analysts rate them as buys:
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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 with leadership positions in plasma therapies and vaccines.
And while plasma collection headwinds have been weighing on collections and investor sentiment again in FY 2022, CSL appears well-placed for growth once conditions improve. 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.
In addition, the company is in the process of making the major acquisition of Vifor Pharma for ~$17 billion. This will expand CSL's leadership across an attractive portfolio focused on renal disease and iron deficiency.
Morgans is a fan of CSL. It currently has an add rating and $334.70 price target on its shares.
Rio Tinto Limited (ASX: RIO)
If you're looking for resources sector exposure, then Rio Tinto could be an ASX 200 blue chip share to buy.
Rio Tinto is one of the world's largest miners with a portfolio of world class operations across a number of commodities including aluminium, copper, and iron ore.
Goldman Sachs is positive on Rio Tinto and has a buy rating and $128.80 price target on its shares. It is bullish due to its attractive valuation, strong free cash flow, production growth potential, and its exposure to low emission aluminium.
In respect to the latter, Goldman commented: "In addition to copper production growth, RIO has one of the highest margin, lowest carbon emission aluminium businesses in the world, with over 2.2Mt of Ali production powered by hydro, and we think ELYSIS inert anode technology could be worth billions."
