Experts name 2 excellent blue chip ASX 200 shares to buy

These blue chip shares could be buys…

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If you’re wanting to strengthen your portfolio with some ASX 200 blue chip shares, you may want to look at the two listed below.

Both have recently been named as buys by leading brokers. Here’s why they could be the blue chip shares to buy right now:

Goodman Group (ASX: GMG)

The first ASX 200 blue chip share to look at is Goodman Group. It is a leading global integrated commercial and industrial property company with a portfolio of warehouses, large scale logistics facilities, and business and office parks.

Goldman Sachs is a big fan of the company and recently initiated coverage on its shares with a buy rating and $25.40 price target. This is largely due to strong demand for industrial properties and its burgeoning development pipeline.

Goldman said: “We continue to forecast a ~19% CAGR in AUM over FY21-24e, with AUM reaching ~A$90bn by end FY24. We forecast development completions to contribute the majority (~75%) of AUM growth over 1H22-FY24e (based on development production of ~A$7bn pa).”

ResMed Inc (ASX: RMD)

Another high quality ASX 200 blue chip 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.

Analysts at Citi are very positive on the company and have a buy rating and $35.50 price target on its shares. Its analysts believe ResMed is well-placed to permanently grow its market share in the sleep treatment market due to a major competitor product recall.

The broker commented: “Despite the short-term impact [of supply chain issues], we continue to expect ResMed will make a permanent 10% market share gain in devices due to the Philips’ recall.”

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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