If you’re looking to strengthen your portfolio with some blue chip shares, you may want to look at the two listed below.
Here’s why these blue chip ASX 200 shares are highly rated right now:
CSL Limited (ASX: CSL)
The first blue chip ASX 200 share to look at is CSL. This biotherapeutics giant could be a top option for investors after a very poor start to 2022. Especially given the potential positive catalysts that are on the horizon that could be supportive of a share price recovery.
That’s the view of the team at Citi, which currently has a buy rating and $335.00 price target on the company’s shares.
The broker commented: “Over the next six months, we expect the market to focus on the strong underlying plasma market demand, and the closure the Vifor deal, both of which should lead to strength in the share price.”
Based on the current CSL share price of $264.95, Citi’s price target implies potential upside of 26% for investors over the next 12 months.
ResMed Inc (ASX: RMD)
Another high quality ASX 200 share for investors to consider is ResMed.
It is a global leader in the development, manufacturing, distribution, and marketing of medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders. This includes sleep apnoea and chronic obstructive pulmonary disease (COPD).
Analysts at Morgans believe the company is well-placed for growth over the long term. This is thanks to a recovery in sleep apnoea volumes post-pandemic and its growing digital health business. The broker has an add rating and $40.46 price target on the company’s shares.
Morgans commented: “While we believe the next few quarters will likely be volatile, as Covid-related demand for ventilators continues to slow and core sleep apnoea volumes gradually lift, nothing changes our medium/longer term view that the company remains well-placed as it builds a unique, patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.”
Based on the current ResMed share price of $31.61, Morgans’ price target suggests there’s potential upside of 28% for investors.