If you're looking for some new portfolio additions in September, then it could be worth looking at the ASX 200 blue-chip shares listed below that have recently been named as buys.
Here's why brokers are positive on these top shares:
CSL Limited (ASX: CSL)
The first ASX 200 blue chip share that could be a top buy is CSL. It is the biotherapeutics giant behind the world-class CSL Behring, CSL Vifor, and Seqirus businesses.
Citi is very positive on the company and feels that its shares deserve to trade on higher multiples. The broker explains:
We adjust our FY24-25e NPATA per share (Core EPS) by 0%/-3%. Our new TP of $325 (from $340) implies CSL should trade on an FY26 PE of ~26x, in-line with the 10-year average. Maintain Buy.
Citi currently has a buy rating and a $325 price target on its shares. This implies a potential upside of 21% for investors over the next 12 months.
Endeavour Group Ltd (ASX: EDV)
Over at Goldman Sachs, its analysts think that Endeavour could be an ASX 200 blue chip share to buy.
The broker likes the company due to its industry-leading position and attractive valuation. It also sees scope for a re-rate in the near future. It explains:
Net net, Stock is trading at 19.3x FY24 P/E or 12.9x FY24 EV/EBIT, which is a discount to Staples peers. We tweak our sales -1% to 0% and NPAT -2% to -3% largely on higher interest costs offsetting improved margins. We attribute 18x EV/EBIT to Retail for its staples quality and superior returns, which implies Hotels is valued at 6.0x by the market vs peers of ~10x. Catalyst: as retail sales turn positive in 1H24 and hotel operations prove resilient, we expect the stock to re-rate.
Goldman has a buy rating and a $6.90 price target on the company's shares. This suggests a potential upside of approximately 26% for investors.
