2 of the best ASX 200 blue-chip shares to buy this month

Here are a couple of blue chips that analysts have recently tipped as strong buys.

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If you want to construct a strong portfolio, then having a number of high-quality ASX 200 blue chip shares could help you achieve your goal by giving you a firm foundation to build from.

But which blue chips do analysts think investors should be buying right now?

Two that analysts rate very highly are listed below. Here's what they are saying about them:

Qantas Airways Limited (ASX: QAN)

The first ASX 200 blue-chip share that could be a buy is airline operator Qantas.

Morgans continues to believe that the Flying Kangaroo's shares are being undervalued by the market following its post-COVID transformation. It said:

QAN is trading at a material discount compared to pre-COVID multiples, despite having structurally higher earnings, a much stronger balance sheet, a better domestic market position, a higher returning International business and more diversification (stronger Loyalty/Freight earnings). The strong pent-up demand to travel post-COVID should result in a healthy demand environment for some time, underpinning further earnings growth over FY24/25.

The broker has an add rating and a $7.30 price target on Qantas' shares.

Transurban Group (ASX: TCL)

Another ASX 200 blue-chip share that is highly rated is Transurban. It is the toll road giant behind a quality portfolio of roads across Australia, such as Cross City Tunnel, AirportlinkM7, and North America.

Bell Potter believes that the company is well-placed in the current environment and has a significant long-term growth opportunity. It explains:

We believe the current inflationary environment is favourable for Transurban given its inflation-linked revenue stream with annual escalators. Moreover, TCL provides low risk cash flows over the long term, with long concession duration (30+ years), and relative traffic/income resilience. The group's current pipeline of growth projects is $3.3 billion (TCL's share of total project cost) and further huge development opportunities are expected over the next few decades, supported by population and economic growth.

The broker has a buy rating and a $15.90 price target on Transurban's shares.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Transurban Group. The Motley Fool Australia has no position in any of the stocks mentioned. 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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