Are you looking for ASX 200 blue-chip shares for your portfolio? If you are, then it could be worth checking out the two listed below that brokers are feeling very positive on.
Here's why they are tipping them as buys:
Macquarie Group Ltd (ASX: MQG)
The first ASX 200 blue-chip share that could be a buy is investment bank Macquarie.
The team at Morgans is very positive on the bank and believes it is well-placed for the long term. This is thanks partly to its exposure to structural growth markets. The broker explains:
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 a $201.80 price target on its shares. This suggests approximately a 10% upside from current levels. The broker also expects an attractive 3.7% dividend yield in FY 2023.
ResMed Inc. (ASX: RMD)
Another ASX 200 blue-chip share that has been named as a buy is ResMed. It is a healthcare company with a focus on medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders.
Analysts at Goldman Sachs are very positive on the company. This is thanks to ResMed's strong long-term growth outlook and undemanding valuation. They said:
We continue to see a long-duration runway of HSD organic growth for RMD, and we believe valuations (PE: 31.4x / EV/EBITDA: 22.0x) both c.6% below 5-year averages and growth-adjusted valuation of 2.6x (sector 2.4x) are not demanding in the context of various near/long-dated tailwinds.
Goldman currently has a buy rating and a $39.60 price target on the company's shares. This implies a potential upside of 21% for investors over the next 12 months.
