The ASX 200 index is home to a good number of high-quality blue-chip shares with strong business models and positive growth outlooks.
But which ASX 200 blue chip shares could be buys?
Two that analysts are tipping as buys are listed below. Here's what you need to know about them:
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Cochlear Limited (ASX: COH)
The first ASX 200 blue chip share that has been named as a buy is Cochlear. It is a leader in the development, manufacture, and distribution of cochlear implantable devices for the hearing impaired.
Goldman Sachs believes that the company is well-placed to continue its growth and win market share. It recently commented:
Given we believe COH has one of the strongest/broadest portfolios in recent memory, and having taken advantage of the strong sales momentum in FY23 to increase investment into growth/commercialisation initiatives (including DTC campaigns which appear increasingly impactful), we see limited reasons why COH won't continue to gain steady share through FY24E and beyond.
Goldman has a buy rating and a $280 price target on Cochlear's shares.
Goodman Group (ASX: GMG)
Citi continues to rate this industrial property company as a top buy.
It was impressed with Goodman's performance in the first quarter and believes its outlook remains as positive as ever. Particularly given its opportunity in the data centre market. It commented:
GMG's 1Q24 update highlighted continued strong operational results with 99% occupancy, rising LFL rental growth as they capture under-renting, and growing AUM and stable development production rate with elevated margins. […] Demand supply dynamics remain tight in industrial and GMG's large development pipeline and solid track record, along with data center opportunities should drive the growth in earnings over the medium term. The stock trades at c.21x FY24e but with a consistent double-digit earnings growth outlook over the next 3-5 years, we see good value here.
Citi's analysts have a buy rating and a $25.50 price target on Goodman's shares.
