If you're looking to bolster your portfolio with some blue chip shares in March, you may want to look at the two listed below.
Here's why these blue chip ASX shares are highly rated right now:
Goodman Group (ASX: GMG)
The first blue chip ASX 200 share to look at is Goodman Group. It is a leading integrated commercial and industrial property company with a portfolio of in-demand properties. These properties have exposure to key growth markets such as ecommerce and logistics. Thanks to strong demand and a material development pipeline, Goodman has been tipped to continue its solid growth in the coming years.
Earlier this month, the team at Citi responded to Goodman's half year results by retaining its buy rating and lifting its price target to $29.50. This compares favourably to the latest Goodman share price of $22.21.
Citi believes that management's upgraded earnings per share guidance of 20% in FY 2022 is conservative and sees scope for Goodman to outperform it.
REA Group Limited (ASX: REA)
Another ASX blue chip ASX 200 share to look at is REA Group. It is a leading provider of property and property-related services via websites and mobile apps across Australia and Asia. It is best-known for the realestate.com.au website which has been dominating the ANZ market for years.
For example, during the first half of FY 2022, REA reported an average of 12.6 million unique visitors to its website each month, with a record 13.2 million in October. The latter is the equivalent of 65% of Australia's adult population. On average, there were 3.3x more visits than the nearest competitor each month.
Looking ahead, thanks to its dominant market position, the resilient housing market, and new acquisitions and revenue streams, REA Group appears well-positioned for long term growth.
Citi is also very positive on REA. Earlier this month, the broker put a buy rating and $166.00 price target on the company's shares. This is meaningfully higher than the current REA share price of $133.17.
