If you're looking for ASX 200 blue-chip shares to strengthen your portfolio, then you may want to check out what Morgans is saying.
Among its best ideas list for the month are the following blue chips. Here's what the broker is saying about them:
CSL Limited (ASX: CSL)
The first ASX 200 blue-chip share that could be a buy according to Morgans is CSL.
The broker highlights that the biotherapeutics company's shares are trading at a significant discount to long-term averages. It said:
While shares have struggled of late, we continue to view CSL as a key portfolio holding and sector pick, offering double-digit recovery in earnings growth as plasma collections increase, new products get approved and influenza vaccine uptake increases around ongoing concerns about respiratory viruses, with shares trading at 25x, a substantial discount (20%) to its long-term average.
Morgans has an add rating and $328.20 price target on its shares.
Macquarie Group Ltd (ASX: MQG)
Another blue-chip share that has been tipped as a buy this month is Macquarie.
It likes the investment bank due to its exposure to long-term structural growth. It 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.
The broker currently has an add rating and a $194.40 price target on its shares.
Treasury Wine Estates Ltd (ASX: TWE)
A final ASX 200 blue-chip share that Morgans is bullish on this month is wine giant Treasury Wine.
Its analysts see a lot of value in the company's shares at the current level and even more if China removes its tariffs. The broker said:
Given TWE's undemanding valuation compared to other luxury brand owners, we see value in TWE. With Penfolds outperforming expectations (makes up ~72% of our valuation) and a clear strategy to improve performance at Treasury America and Treasury Premium Brands, we expect earnings to accelerate from the 2H24 onwards. While risks remain, we back this management team to deliver. The key near term share price catalyst is if China removes the tariffs.
Morgans has an add rating and a $13 price target on its shares.
