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

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

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James Mickleboro
James Mickleboro has been a Motley Fool contributor since late 2015. After studying economics at university back home in the United Kingdom, James came to live in Australia and managed to land a job at an Australian fund manager. This was the start of a love affair with Australian equities and he hasn't looked back since. James is part of the CFA Institute's Chartered Financial Analyst program and hopes it teaches him how to become an astute investor which allows him to help others with their own investing. Outside of reading and researching he spends many a late night watching the English Premier League and Seinfeld reruns.
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If you're looking to add some ASX 200 blue-chip shares to your portfolio in December, then the three listed below could be worth considering.

These ASX 200 shares have all been named as buys by brokers recently. Here's what you need to know about them:

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

Image source: Getty Images

Endeavour Group Ltd (ASX: EDV)

Goldman Sachs thinks that Endeavour is an ASX 200 blue chip share to buy. It is the drinks giant behind the BWS and Dan Murphy's brands, as well as a huge network of hotels.

The broker believes that the company's shares are cheap based on its market leadership and positive outlook. It said:

Most attractive valuation amongst Staples peers: We 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. EDV is currently trading at FY24e P/E of 18.4x with FY23-25e EPS CAGR of ~5%, which is the cheapest vs WOW, COL, WES.

Goldman has a conviction buy rating and a $6.40 price target on the company's shares.

Macquarie Group Ltd (ASX: MQG)

Another ASX 200 blue-chip share that could be a buy is Macquarie.

Morgans likes the investment bank for a number of reasons. This includes its exposure to long-term structural growth. The broker 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.

Morgans has an add rating and a $182.80 price target on its shares.

ResMed Inc. (ASX: RMD)

A final ASX 200 blue-chip share that has been named as buy is ResMed. It is a sleep treatment-focused medical device company with a portfolio of leading hardware and digital solutions.

Goldman Sachs is also positive on the company and believes recent share price weakness has created a buying opportunity. It said:

We view the risk/reward to be favorable and are Buy-rated. 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 $32 price target on the company's shares.

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

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