Are you looking to add some blue chip shares to your portfolio this month? Then you could do a lot worse than the three ASX shares listed below.
Here’s why I think these are blue chip shares to buy:
CSL Limited (ASX: CSL)
The first blue chip share I would buy is this biotherapeutics company. I believe a recent pullback in its share price has created a buying opportunity for investors. Especially those that are interested in making a long term investment. I believe CSL has an extremely bright future ahead of it thanks to its strong portfolio of therapies and its pipeline of lucrative products. Should some of the latter products hit the market in the future, I believe they have the potential to underpin strong sales and profit growth.
Macquarie Group Ltd (ASX: MQG)
Another blue chip ASX share I would buy is Macquarie. I’m a big fan of the investment bank due to the quality and diversity of its operations and its talented management team. And although its near term performance is likely to be impacted by the pandemic, I expect the company to bounce back once the crisis passes. This is just like it has done in the past through similar events like the global financial crisis. Another bonus is that the company’s shares offer a decent estimated forward yield of 3.75%.
Transurban Group (ASX: TCL)
A final blue chip share to consider buying is this toll road operator. Transurban owns a number of key toll roads roads in Australia and North America. As you would expect, the pandemic has had a negative impact on its performance this year, with traffic volumes falling heavily. However, with restrictions easing, I expect volumes to start to normalise over the coming months and for its earnings to rebound in 2021. I believe this makes it a good time to pick up its shares with a long term view.
And here are more highly rated shares to consider adding to your portfolio in June…
3 “Double Down” Stocks To Ride The Bull Market
Motley Fool resident tech stock expert Dr. Anirban Mahanti has stumbled upon three under-the-radar stock picks he believes could be some of the greatest discoveries of his investing career.
He’s so confident in their future prospects that he has issued “double down” buy alerts on each of these three stocks to members of his Motley Fool Extreme Opportunities stock picking service.
*Extreme Opportunities returns as of June 5th 2020
More reading
- The ASX winners and losers from the latest S&P index shake-up
- 2 ASX blue chip shares I think every portfolio should hold
- Got $5,000 spare? Consider Wesfarmers shares and these 2 other ASX companies
- Is the Transurban share price a secret bargain?
- ASX 200 Weekly Wrap: ASX bears take control as market volatility returns
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia owns shares of Transurban Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The post Why I would buy CSL and these ASX blue chip shares appeared first on Motley Fool Australia.
from Motley Fool Australia https://ift.tt/3e4pXJK
Leave a Reply