Looking for blue chip shares to buy? If you are, check out the ASX 200 shares listed below that have recently been named as buys and tipped to have meaningful upside potential.
Here's what you need to know about these ASX blue chip shares:
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CSL Limited (ASX: CSL)
CSL could be a blue chip ASX 200 share to buy. It is of course one of the world's leading biotechnology companies, comprising the CSL Behring, CSL Vifor, and Seqirus businesses.
While trading conditions have been tough over the last couple of years due to plasma collection headwinds, everything is largely back to normal now and CSL's outlook is becoming increasingly positive. Particularly given the recent blockbuster acquisition of Vifor Pharma, which makes up the CSL Vifor business. This has added to the company's world class product portfolio and burgeoning research and development pipeline.
Citi remains very positive on CSL and currently has a buy rating and $340.00 price target on its shares. This compares favourably to the latest CSL share price of $282.71.
Treasury Wine Estates Ltd (ASX: TWE)
Another blue chip ASX 200 share that could be a buy is Treasury Wine.
It is the wine giant behind popular brands including 19 Crimes, Wolf Blass, and Penfolds.
Much like CSL, the last couple of years have been difficult for Treasury Wine, but for very different reasons. After the company was effectively kicked out of the lucrative China market, it was forced to find a new destination for these wines. The good news is that this has been successful and the company is back on track again.
In fact, the team at Morgans believe the company is not only back on track, but back on course to deliver strong earnings growth in the coming years.
In light of this, the broker sees plenty of value in its shares at the current level. Morgans has an add rating and $15.71 price target on the company's shares. This compares to the latest Treasury Wine share price of $12.99.
