If you're interested in adding some ASX 200 blue-chip shares to your portfolio, then the two buy-rated options listed below could be worth considering.
Here's what you need to know about them:
ResMed Inc. (ASX: RMD)
The first ASX 200 blue-chip share to consider buying is ResMed. It is an industry leader in the sleep treatment market.
Its shares have come under significant pressure in recent months amid concerns over the impact that weight loss drugs could have on its addressable market.
The team at Goldman Sachs thinks this is an overreaction and continues to forecast strong long-term growth from ResMed. In light of this, it feels that its shares are in the bargain bin right now. It said:
We view valuation as attractive and see a favourable risk-reward skew post the recent de-rate, noting the shares are trading meaningfully below historical averages on both a P/E and EV/EBITDA basis.
Goldman has a buy rating and a $33 price target on ResMed's shares.
Wesfarmers Ltd (ASX: WES)
Another ASX 200 blue-chip share that has been named as a buy is Wesfarmers.
It is the conglomerate behind businesses including Bunnings, Covalent Lithium, Kmart, Officeworks, Priceline, and WesCEF.
Morgans remains positive on Wesfarmers in the current environment thanks to its affordable offering, strong balance sheet, and experienced management team. It commented:
The company is run by a highly regarded management team and the balance sheet is healthy. We believe WES's businesses, which have a strong focus on value, remain well-placed for growth and market share gains in a softening macroeconomic environment.
Morgans has an add rating and a $55.15 price target on Wesfarmers' shares.
