Blue chip ASX 200 shares often have a reputation of delivering slow and steady returns.
But that isn't always the case.
For example, the two blue chip shares named below are currently being tipped to rise by almost 50% by analysts at Morgans.
Here's what they are recommending to clients this month:
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Flight Centre Travel Group Ltd (ASX: FLT)
The team at Morgans is positive on travel agent giant Flight Centre and believes it could be an ASX 200 blue chip share to buy now.
It has put a buy rating and $18.05 price target on its shares, which suggests that upside of almost 50% is possible between now and this time next year.
The broker was pleased with its half-year results, which were better than feared, and highlights the low multiples that Flight Centre's shares trade on. It said:
FLT's 1H26 NBPT was up 4.1%, a beat on guidance for a flat result. The Corporate result was the highlight with NPBT was up 20%, while Leisure was better than feared down only 4%. The 3Q26 is off to a strong start and importantly Leisure is back in growth.
FY26 guidance was reiterated. We have made minor upgrades to our forecasts. FLT's fundamentals remain attractive (FY27 PE of 10.6x) and we retain a Buy recommendation with a new A$18.05 price target.
Iress Ltd (ASX: IRE)
Morgans also thinks that this financial technology company could be an ASX 200 blue chip share to buy.
In response to its full-year results last month, the broker upgraded Iress' shares to a buy rating with a $10.95 price target.
This implies potential upside of almost 50% for investors over the next 12 months. It said:
IRE delivered a solid FY25 result with underlying EBITDA of A$136.2m, +4.7% ahead of our estimate, and the group's FY25 guidance range. Divisionally each segment delivered solid EBITDA growth half on half, with APAC Wealth up +24.5%, UK Wealth +46%, and GTMD +8.6%. FY26 Cash EBITDA guidance (underlying EBITDA less capex) was provided at A$116-126m (representing 15-26% growth YoY).
IRE flagged that capex for FY26 will remain in line with FY25, which implies further operating leverage is expected. We upgrade our underlying EBITDA forecasts by +5-6%, which sees our price target increase to $10.95 from $10.50. With over 50% implied TSR, we move to a BUY rating from ACCUMULATE.
