If you're wanting to add some ASX 200 blue chip shares to your portfolio in January, then the three listed below could be worth a look.
These ASX 200 shares have all been named as buys recently and tipped to rise meaningfully from current levels. Here's what you need to know about them:
Image source: Getty Images
Brambles Limited (ASX: BXB)
Macquarie thinks that Brambles could be an ASX 200 blue-chip share to buy. It is a supply chain solutions company that specialises in reusable pallets, crates, and containers for shared use.
The broker was pleased with the company's first-quarter performance and believes more of the same is coming. So much so, it suspects that Brambles could upgrade its FY 2024 sales growth guidance of 6% to 8% when it releases its half-year results next month.
Macquarie has an outperform rating and a $15.70 price target on Brambles shares.
Macquarie Group Ltd (ASX: MQG)
Another ASX 200 blue-chip share that could be a buy is Macquarie.
That's the view of analysts at Morgan Stanley, who believe that now could be the time to pounce on the investment bank's shares. Particularly given its belief that a return to form is coming in FY 2025, with the broker forecasting 20%+ earnings per share growth on normalising performance fees and gains on sale.
Morgan Stanley has an overweight rating and a $202 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 positive on the company and believes recent share price weakness has created a buying opportunity for investors. Its analysts "view [ResMed's] valuation as attractive and see a favourable risk-reward skew post the recent de-rate."
Goldman has a buy rating and a $32 price target on the company's shares.
