If you have room in your investment portfolio for some new ASX 200 blue chip shares this month, then read on!
That's because listed below are three high quality names that brokers are urging investors to buy following the market selloff.
Let's now see what they are recommending to investors this month:
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Cochlear Ltd (ASX: COH)
Hearing solutions might not sound exciting – until you realise Cochlear has one of the strongest global brand moats in Australian healthcare. The ageing population tailwind, constant innovation, and growing presence in emerging markets make this ASX 200 blue chip a classic buy and hold share. Short-term market noise doesn't change the fact that demand for hearing implants is only heading in one direction – up.
The team at Citi is bullish on Cochlear and sees plenty of value in its shares at current levels. The broker currently has a buy rating and $300.00 price target on them.
Macquarie Group Ltd (ASX: MQG)
Another ASX 200 blue chip share that could be a buy for investors right now is Macquarie. It is not your typical bank stock. It is a global powerhouse with tentacles stretching into infrastructure, green energy, asset management, and more. The recent market weakness has pulled its shares back meaningfully and this could be the ideal time to pounce. With a long history of capital discipline, clever deal-making, and paying juicy dividends, Macquarie remains one of the most unique and diversified names on the ASX.
The team at Morgan Stanley thinks it would be a top ASX 200 blue chip share to buy. The broker recently put an overweight rating and $224.00 price target on its shares.
TechnologyOne Ltd (ASX: TNE)
Australia's quiet SaaS achiever, TechnologyOne has built an incredibly resilient business offering enterprise software to councils, universities, and government departments. With almost all of its revenue recurring and margins among the best in the sector, this company has quietly compounded shareholder wealth for years. Even amid market volatility, its defensive customer base keeps the cash flowing – and that's what makes it a long-term gem.
Bell Potter is feeling bullish about its outlook and feels that recent market weakness has dragged this ASX 200 blue chip share to a very attractive level. So much so, this week the broker upgraded TechnologyOne's shares to a buy rating with a $29.00 price target.
