If you're looking to bolster 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:
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Healius Ltd (ASX: HLS)
The first blue chip ASX 200 share to look at is Healius. It is one of Australia's largest pathology and diagnostic imaging providers.
Healius has been growing at a rapid rate over the last couple of financial years thanks to huge demand for COVID testing. Despite testing volumes inevitably declining now as Australia moves on from the pandemic, analysts at Morgans remain positive on the company and have an add rating and $5.26 price target on its shares.
The broker is expecting Healius' base business to rebound as COVID headwinds ease.
It commented: "We continue to believe HLS is attractively valued and well placed, benefiting from the likely continuance of COVID PCR testing (at some level) and from the inevitable rebound in demand from a backlog in diagnosis and surgery."
Wesfarmers Ltd (ASX: WES)
Another ASX 200 share that is rated highly is Wesfarmers. It is the conglomerate behind the Bunnings, Kmart, Officework, Priceline, and Target businesses. In addition, the company owns a collection of industrial businesses and even lithium mining operations.
The Wesfarmers share price is having a tough year and has pulled back materially from its highs. While this is disappointing, the team at Morgans believes it has created a buying opportunity for investors. Its analysts currently have an add rating and $58.50 price target on its shares.
Morgans commented: "WES possesses one of the highest quality retail portfolios in Australia with strong brands including Bunnings, Kmart and Officeworks. The company is run by a highly regarded management team and the balance sheet is healthy. While COVID-related staff shortages are a challenge, the core Bunnings division (>60% of group EBIT) remains a solid performer as consumers continue to invest in their homes. We see the recent pullback in the share price as a good entry point for longer term investors."
