If you're looking for ASX 200 blue-chip shares to buy and hold then Bell Potter has a couple of suggestions.
The broker believes the two shares listed below "offer attractive risk-adjusted returns over the long term." Here's what it is saying:
Goodman Group (ASX: GMG)
Bell Potter believes that this industrial property developer and manager is a blue chip share to buy and hold.
Its analysts currently have a buy rating and a $24.50 price target on its shares. The broker commented:
Although, rising interest rates and higher cost of capital are starting to have impact on asset values, accelerating industrial rents– driven by record low vacancy– has meant industrial property has outperformed. We see potential for GMG's earnings to grow further as it captures the significant rental upside to market, as well as via ongoing development activity in a market where vacancy levels are low. In our view, GMG is a well-run business and the long-term outlook for industrial and logistics properties is favourable given the continuing growth in ecommerce (or online retail sales) and the growing middle class in developing countries.
ResMed Inc. (ASX: RMD)
Another ASX 200 blue-chip share that could be a top buy and hold option according to the broker is sleep treatment company ResMed.
Bell Potter currently has a buy rating and a $39 price target on its shares. It commented:
The market for OSA and chronic obstructive pulmonary disease (COPD) remains under penetrated, and we expect industry volume growth to continue in the 6-8% range for the foreseeable future. In this regard, the competitive dynamics are very much in favour of RMD due to the Philips recall and improving semiconductor availability. Looking ahead, ResMed continues to expect device sales to be sequentially higher throughout CY2023. Furthermore, ResMed is well-positioned to build on its dominant share even after Philips returns to the global market, with the launch of its latest continuous positive airway pressure (CPAP) device, the Air Sense 11.
