If you're looking for some ASX 200 blue-chip shares to buy, then take a look at what brokers are saying about the two listed below.
Here's what they are saying about them:
Brambles Limited (ASX: BXB)
The team at Bell Potter rates Brambles as a blue-chip share to buy. It is a global support services provider offering reusable pallets, crates, and containers for shared use by multiple participants throughout a supply chain.
The broker believes Brambles is well-positioned to benefit from structural drivers and expects it to be able to pass through rising costs. It explains:
Overall, we are optimistic about the ongoing structural improvements within the business underpinned by supply chain efficiencies, automation benefits and improved data analytics. Additionally, Bramble's scale of business allows the company to pass some of the costs associated with inflation to its customers through its own price rises and surcharges. Further expansion into emerging markets should generate additional earnings growth.
Bell Potter has a buy rating and a $15.65 price target on Brambles shares.
Endeavour Group Ltd (ASX: EDV)
Goldman Sachs thinks that Endeavour could be an ASX 200 blue-chip share to buy right now.
It likes Endeavour due to its leadership position in the drinks market and attractive valuation. The broker also sees potential for its shares to re-rate in the near future. It said:
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.
