Are you looking for some new high quality additions to your investment portfolio?
If you are, check out the three ASX 200 blue chip shares listed below that could be worth considering.
Here's why analysts are bullish and are tipping them as top buys right now:
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Challenger Ltd (ASX: CGF)
Morgans thinks that Challenger could be an ASX 200 blue chip share to buy. It is an investment management company with a focus on providing customers with financial security for a better retirement.
The broker is feeling positive about the company's outlook following the release of a strong full year result this month. Commenting on the result and its improved capital position, the broker said:
CGF's FY24 normalised NPAT (A$417m) was in-line with consensus and +14% on the pcp. Overall, we saw this as a positive FY24 result highlighted by a strong improvement in Life business margins/returns, good group cost control and an upward step change in CGF's capital position. We retain our Add rating.
Morgans has an add rating and $8.66 price target on the company's shares.
Light & Wonder Inc. (ASX: LNW)
Another ASX 200 blue chip share that is being tipped as a buy is Light & Wonder. Formerly known as Scientific Games, it is a Nasdaq and ASX-listed gaming company with a focus on slot machines, social casino games, and real money gaming content.
It has been winning market share in Australian and the United States in recent years. The good news is that Bell Potter believes this trend can continue and drive strong returns. It said:
LNW operates globally, with over 67% of its revenue historically derived from the US. We anticipate that LNW's cross-platform strategy and leading scale will enhance game performance metrics relative to competitors in both land-based and digital markets. As a result, we expect this improvement in product quality to strengthen LNW's competitive advantage, allowing the company to generate above industry average ROIC.
The broker has a buy rating and $180.00 price target on its shares.
ResMed Inc. (ASX: RMD)
Finally, analysts at Morgans think that this sleep disorder treatment company could be a great ASX 200 blue chip share to buy.
Its analysts believe that ResMed is well-positioned for growth over the long term. That's even with the emergence of weight loss drugs, which could reduce its addressable market. They said:
While weight loss drugs have grabbed headlines and investor attention, we see these products having little impact on the large, underserved sleep disorder breathing market, and do not view them as category killers. Although quarters are likely to remain volatile, nothing changes our view that the company remains well placed and uniquely positioned as it builds a patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.
Morgans has ResMed on its best ideas list with an add rating and $35.93 price target.
