3 outstanding blue chip ASX 200 shares to buy in 2024

Analysts have put buy ratings on these blue chips.

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If you're wanting to build a strong portfolio, then having a few blue chips in there could be a good starting point.

Blue chips are typically large companies that have been operating for many years, have stable cash flows, and experienced management teams.

This can make them relatively low-risk options and a good foundation to build a portfolio from.

But which blue chip ASX 200 shares could be in the buy zone? Here are three to consider this week:

Aristocrat Leisure Limited (ASX: ALL)

The first blue chip ASX 200 share to consider is Aristocrat Leisure. It is one of the world's leading gaming technology companies with a world-class portfolio of poker machines and digital/mobile games. The latter includes games such as Cashman Casino, Gummy Drop, Mech Arena, and RAID, which are underpinning significant recurring revenues. Aristocrat also recently expanded into the real money gaming market with its Anaxi business, which has been tipped to grow materially over the next decade.

Macquarie is bullish on the company and has an outperform rating and a $48.50 price target on its shares.

CSL Limited (ASX: CSL)

Another blue chip ASX 200 share to consider is CSL. It is one of the world's leading biotechnology companies, comprising the CSL Behring, CSL Vifor, and Seqirus businesses. It has had a tough couple of years because of COVID headwinds, but now appears well-placed for strong growth again thanks to rebounding plasma collections, increasing demand for its immunoglobulins, and its lucrative research and development pipeline.

Goldman Sachs is a fan of the company and has a buy rating and a $309 price target. It highlights that CSL is entering a "period of historically-high earnings growth (+14% CAGR FY23-27E)."

Goodman Group (ASX: GMG)

A third blue chip ASX 200 share to look at is Goodman Group. It is a leading integrated commercial and industrial property company that has been growing at a solid rate over the last decade. This growth has been driven by the overwhelming success of its strategy of developing high-quality industrial properties in strategic locations, close to large urban populations and in and around major gateway cities globally. The good news is that this strategy remains in place and the company has a huge development pipeline that is expected to drive further growth.

Morgan Stanley is positive on the company's outlook and has an overweight rating and a $25.50 price target on its shares.

Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Goldman Sachs Group, Goodman Group, and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended CSL and Goodman Group. 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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