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 brokers. Here's why they could be blue chip shares to buy right now:
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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 operations across the world. Among its portfolio are warehouses, data centres, large scale logistics facilities, and business and office parks.
Demand for Goodman's properties has been strong and has underpinned sky high occupancy rates and stellar earnings growth over the last decade.
The good news is that Goldman Sachs expects this strong growth to continue in FY 2023. It recently commented:
GMG has provided initial FY23 EPS growth guidance of 11% vs our revised estimate of ~16.7%. Given the continued strong fundamentals underpinning demand for high-quality, well located logistics assets, we continue to believe GMG can deliver FY23 growth ahead of initial guidance due to; (1) continued strong development WIP at strong margins, (2) our forecast of ~16% growth in AUM over FY23, largely driven by development completions, serving to increase both AUM (and respective funds management fees) and development earnings, and (3) growth in co-investment income as AUM increases.
Goldman currently has a buy rating and $25.40 price target on the company's shares.
Macquarie Group Ltd (ASX: MQG)
Another ASX 200 share that brokers rate highly is Macquarie. It is is a global provider of banking, financial, advisory, investment and fund management services.
Analysts at Morgans are very positive on the investment bank. While they acknowledge that it will be hard to top FY 2022's result in the current financial year, the broker remains positive on the future. This is due to Macquarie's exposure to a number of long term structural growth areas and its ongoing market share gains in Australian mortgages. It explained:
We continue to like MQG's exposure to long-term structural growth areas such as infrastructure and renewables. The company also stands to benefit from recent market volatility through its trading businesses, while it continues to gain market share in Australian mortgages.
Morgans has an add rating and $215.00 price target on Macquarie's shares.
