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

Analysts think these blue chips could be best buys this month.

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Having a few blue chip ASX 200 shares in your portfolio is usually a good idea.

That's because blue chips are often lower-risk options due to their strong and established business models, experienced management teams, and robust cash flows.

But which blue chips could be good options for investors right now? Two that brokers have named as best buys are listed below. Here's what they are saying about them:

Coles Group Ltd (ASX: COL)

The team at Bell Potter has this supermarket giant as a favoured pick on its Australian Equities Panel. The broker believes the company is well-positioned for the future thanks to moderating costs and supply chain improvements. It said:

Costs are expected to remain elevated but should moderate through FY24 and FY25 as general inflation tapers off. In the medium term, 1) higher immigration should support grocery spending, and 2) Coles is entering a period of elevated capex intensity as it reinvests to modernise its supply chain and to catch up to competitors on online and digital offerings, which should help Coles maintain its market position.

Bell Potter has a buy rating and a $19.00 price target on the company's shares. Based on its current share price of $16.20, this implies a potential upside of 17% for investors over the next 12 months.

Treasury Wine Estates Ltd (ASX: TWE)

Another blue chip ASX 200 share that could be a top option for investors this month is Treasury Wine. It is the wine giant behind the popular Penfolds brand, among many others.

The broker is positive on the company's recent acquisition in the United States and believes it could boost its margins. It said:

It may take some time for the market to digest TWE's acquisition of Paso Robles luxury wine business, DAOU Vineyards (DAOU) for US$900m (A$1.4bn) given it required a large capital raising. The acquisition is in line with TWE's premiumisation and growth strategy and will strengthen a key gap in Treasury Americas (TA) portfolio. Importantly, DAOU has generated solid earnings growth and is a high margin business. It consequently allowed TWE to upgrade its margins targets. While not without risk given the size of this transaction, if TWE delivers on its investment case, there is material upside to our valuation.

Morgans has an add rating and a $14.03 price target on its shares. Based on its latest share price of $12.24, this suggests a potential upside of 15% for investors between now and this time next year.

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