If you're looking to buy some ASX 200 blue chip shares, you may want to look at the stars named below.
Both have been tipped as buys with bright futures by top brokers. Here's why:
CSL Limited (ASX: CSL)
The first blue chip ASX 200 share that has been tipped as a buy is CSL.
It is one of the world's leading biotechnology companies and the name behind the CSL Behring, CSL Vifor, and Seqirus businesses.
CSL Behring is the global leader in a plasma therapies industry, CSL Vifor is a global leader in iron deficiency and iron deficiency anaemia therapies, and Seqirus is the number two player in the global influenza vaccines industry.
These businesses appear well-placed for growth thanks to their world class product portfolios, significant investment in research and development, and strong demand.
Morgans is positive on CSL and believes the tide is finally turning for the company after plasma collection headwinds eased. It said:
While near term challenges remain and plasma inventories will need to be rebuilt over time, strong plasma collection growth and ongoing demand across both Behring and Seqirus underpin strong growth and continued momentum.
Morgans has an add rating and $321.30 price target on its shares.
ResMed Inc (ASX: RMD)
Another star ASX 200 blue chip share that has need named as a buy 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.
ResMed has been growing at a strong rate for years thanks to the popularity of its products and increasing demand for sleep treatment solutions.
Analysts at Goldman Sachs are very positive on the company and believe it is well-placed for further growth. It commented:
We continue to see a long-duration runway of HSD organic growth for RMD, and we believe that growth-adjusted valuation of 3.1x (sector 2.9x) is not demanding in the context of various near/long-dated tailwinds. Buy.
Goldman Sachs has a buy rating and $36.80 price target on its shares.
