Are you on the lookout for some ASX 200 blue-chip shares to bolster your investment portfolio?
If you are, then it could be worth checking out the two listed below that have been tipped as buys by analysts.
Here's what you need to know about them:
Sonic Healthcare Limited (ASX: SHL)
Analysts at Morgans think that Sonic Healthcare could be an ASX 200 blue-chip shares to buy right now.
It is a global healthcare provider with specialist operations in laboratory medicine, pathology, radiology, general practice medicine, and corporate medical services.
Morgans believes that the company is well-positioned for the medium-term thanks to cost reductions and growth initiatives. It said:
M]anagement is accelerating the reduction in legacy pandemic costs. We believe this focus, along with numerous other near/medium term growth initiatives, supports a recovery in underlying profitability.
The broker currently has an add rating and a $36.55 price target on its shares. This implies a potential upside of 14% from current levels. It also expects a 3.4% dividend yield in FY 2024.
Woolworths Limited (ASX: WOW)
Over at Goldman Sachs, its analysts think that Australia's largest supermarket operator is an ASX 200 blue-chip share to buy this month.
Its analysts are big fans of Woolworths due to the strength of its loyalty program and its omni-channel advantage. The broker expects these to allow the company to expand its market share in the future. It said:
We are Buy rated (on Conviction List) on the stock as we believe the business has among the highest consumer stickiness and loyalty among peers, and hence has strong ability to drive market share gains via its omni-channel advantage, as well as pass through any cost inflation to protect its margins, beyond market expectations.
Goldman has a buy rating and a $42.40 price target on its shares. This suggests a potential upside of 15% for investors. And if you add in the 3% dividend yield that Goldman is forecasting, the total potential return stretches to 18%.
