3 struggling ASX blue-chip shares going super cheap right now

These blue chip shares have hit 52-week lows or worse. Are they cheap?

| More on:
Three colleagues stare at a computer screen with serious looks on their faces.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

It has certainly been a difficult month for investors, but every cloud has a silver lining.

The silver lining on this recent market volatility is that a number of high-quality ASX blue-chip shares have been sold down to 52-week lows or worse. This could mean that they are going super cheap right.

Here are three ASX blue-chip shares that could be top buys:

CSL Limited (ASX: CSL)

CSL is arguably Australia's highest-quality company. So, with its shares hitting a 52-week low this week, now could be an opportune time for patient investors.

The team at Citi believe this to be the case. The broker currently has a buy rating and a $325 price target on the global biotechnology company's shares. This implies a potential upside of approximately 27% for the ASX blue chip share over the next 12 months.

Endeavour Group Ltd (ASX: EDV)

Another beaten-down ASX share to look at is drinks giant Endeavour, which has hit a record low this week. Goldman Sachs sees this as an excellent opportunity to buy the shares of the Dan Murphy's owner.

Particularly given how its analysts "continue to see defensiveness in the company's Retail business with relative market share of ~35% vs COL liquor of ~13%, 5.2mn active My Dan's members."

Goldman has a conviction buy rating and a $6.60 price target on the ASX blue-chip share. This suggests a potential upside of almost 27% for investors.

ResMed Inc (ASX: RMD)

Another ASX blue chip share that has been sold off is sleep treatment company ResMed. Concerns over the threat of obesity drugs like Ozempic on long-term demand have weighed heavily on its shares.

Morgans sees "these products having little impact on the large, underserved sleep disorder breathing market." As a result, its analysts have put an add rating and $36.95 price target on its shares. This implies a massive potential upside of 70% for investors.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in CSL, Endeavour Group, and ResMed. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Goldman Sachs Group, and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Blue Chip Shares

Blue chips with stock written on them.
Blue Chip Shares

ASX blue-chip shares: The best of the best for December 2023

I think these blue chips can help our portfolio avoid seeing red.

Read more »

Young woman using computer laptop smiling in love showing heart symbol and shape with hands. as she switches from a big telco to Aussie Broadband which is capturing more market share
Blue Chip Shares

2 ASX blue-chip shares that analysts love

These blue-chip shares tick a lot of boxes for analysts.

Read more »

Three people in a corporate office pour over a tablet, ready to invest.
Blue Chip Shares

Brokers say these 3 ASX 200 blue-chip shares are buys in December

Want some blue chips? Then check out these buy-rated shares

Read more »

A young man talks tech on his phone while looking at a laptop. A financial graph is superimposed across the image.
Blue Chip Shares

These ASX 200 blue-chip shares could be buys in December

These blue chips are highly rated for a reason. Here's what analysts are saying.

Read more »

A businessman looking at his digital tablet or strategy planning in hotel conference lobby. He is happy at achieving financial goals.
Broker Notes

These are the best ASX 200 blue-chip shares to buy now: analysts

Analysts are saying very good things about these blue chips. But why?

Read more »

a man looks down at his phone with a look of happy surprise on his face as though he is thrilled with good news.
Blue Chip Shares

Analysts say these world-class ASX 200 blue-chip shares are buys

Analysts think these blue chips would be good additions to your portfolio.

Read more »

Person holding blue chips.
Blue Chip Shares

2 ASX 200 blue-chip shares trading at a 'significant discount'

This fund manager loves the look of these two large stocks.

Read more »

A young woman lifts her red glasses with one hand as she takes a closer look at news about interest rates rising and one expert's surprising recommendation as to which ASX shares to buy
Blue Chip Shares

'No. 1 in the US': Morgans says buy this ASX 50 share now

Here's what a leading broker is saying about this ASX 50 share this week.

Read more »