2 blue chip ASX 200 shares Morgans rates as buys

These two ASX 200 blue chip shares are highly rated…

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If you’re planning to invest in the market following recent volatility, then the two blue chips listed below could be worth considering.

Both of these ASX 200 blue chip shares have recently been rated as buys by analysts at Morgans. Here’s what the broker is saying:

QBE Insurance Group Ltd (ASX: QBE)

Morgans is positive on this insurance giant’s shares and believes they are trading at a very attractive level at present. Particularly given its improved outlook from premium increases and cost cutting plans. The broker commented:

With strong rate increases still flowing through QBE’s insurance book, and further cost-out benefits to come, we expect QBE’s earnings profile to improve strongly over the next few years. The stock also has a robust balance sheet and remains relatively inexpensive overall trading on ~14x FY22F PE.

The broker has an add rating and $14.45 price target on the company’s shares.

Treasury Wine Estates Ltd (ASX: TWE)

Another blue chip ASX 200 share that Morgans is bullish on is Treasury Wine Estates. It is the wine giant behind brands including 19 Crimes, Beringer, Penfolds, and Wolf Blass.

Morgans is a fan of the company due to its strong brands, attractive valuation, and positive outlook. The broker explained:

TWE owns much loved iconic wine brands, the jewel in the crown being Penfolds. We rate its management team highly. The company recently reported an impressive 1H22 result despite facing several material headwinds. The foundations are now in place for TWE to deliver strong double-digit growth from 2H22 over the next few years. Trading at a material discount to our valuation and other luxury brand owners, TWE is a key pick for us.

Its analysts have put an add rating and $13.93 price target on the company’s shares.

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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Treasury Wine Estates Limited. 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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