If you want to bolster your portfolio with some ASX 200 blue chip shares, then you might want to check out the two named below.
Both have been tipped as buys by brokers recently. Here's why they are bullish:
Treasury Wine Estates Ltd (ASX: TWE)
The first ASX 200 blue chip share that has been named as a buy is Treasury Wine. It is the wine giant behind popular brands including 19 Crimes, Wolf Blass, and of course, Penfolds.
It has been tipped to deliver strong earnings growth in the coming years by analysts at Morgans. This is thanks to its talented management team and strong brands. In addition, the broker believes its shares are cheap compared to global peers. It commented:
TWE owns much loved iconic wine brands, the jewel in the crown being Penfolds. We rate its management team highly. The foundations are now in place for TWE to deliver strong earnings growth from the 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.
Morgans has an add rating and $13.93 price target on the company's shares.
Woolworths Limited (ASX: WOW)
Another ASX 200 blue chip share that has been tipped as a buy is Woolworths. It is the retail giant behind the Woolworths supermarket chain, Big W, and a growing pet care and food business.
Goldman Sachs is very positive on Woolworths. This is due to its strong market position and digital leadership. The broker expects the latter to become important in the future and suspects it could help drive further market share and margin gains. It commented:
WOW continues to be our top pick in the supermarkets sector given its clear margin expansion runway including continued productivity savings at the store network, scaling of e-Comm and Retail Media businesses, for which it is the early mover into.
Goldman currently has a conviction buy rating and $41.00 price target on the company's shares.
