When it comes to building a strong portfolio, having a few ASX 200 blue chip shares in there could be a smart move.
Blue chips are generally companies with a long track record of stability, reliability, and strong performance. They are typically well-established and have a reputation for producing high-quality products or services.
In addition, blue chips tend to pay dividends to their shareholders, which can provide a steady stream of income.
And while they may not grow as rapidly as smaller companies, many blue chips still offer solid growth potential. As a result, they can still provide investors with the opportunity to earn a better than average return on their investment over the long term.
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Which ASX 200 blue chip shares are buy?
Listed below are three ASX 200 blue chip shares that have been rated as buys for 2023. Here's what you need to know:
CSL Limited (ASX: CSL)
The first ASX 200 blue chip share that has been tipped as a buy is CSL. It is one of the world's leading biotherapeutics companies and the owner of the CSL Behring, CSL Vifor, and Seqirus businesses. Citi is positive on its outlook and is forecasting earnings per share growth greater than 20% in both FY 2023 and FY 2024.
Its analysts have a buy rating and $340.00 price target on CSL's shares.
Goodman Group (ASX: GMG)
Citi is also a fan of this industrial property company. It remains positive on the industrial property space and highlights Goodman's "best-in-class balance sheet." Overall, the broker is forecasting solid earnings growth through to at least FY 2025.
Citi has a a buy rating and $23.50 price target on Goodman's shares.
Woolworths Limited (ASX: WOW)
Goldman Sachs is a big fan of this ASX 200 blue chip share. The broker expects Woolworths' strong market position and digital leadership to support further market share and margin gains in the coming years. It expects this to underpin a "~3% sales and ~9% NPAT FY22-25e CAGR."
The broker currently has a conviction buy rating and $41.70 price target on the company's shares.
