If you’re wanting to add some blue chip ASX shares to your portfolio, then you’re certainly in luck.
The Australian share market hosts a number of blue chips which I believe could generate strong returns for investors in the 2020s and beyond.
Three blue chip ASX shares that I would buy are listed below. Here’s why I like them:
Cochlear Limited (ASX: COH)
I think this hearing solutions specialist could be a great blue chip share to buy. I’m bullish on Cochlear’s long-term outlook due to its exposure to the ageing populations trend. This is because hearing tends to fade as people get older. I expect this to lead to strong demand for its high quality products over the next couple of decades and drive consistently solid sales growth. Another positive is the industry’s high barriers to entry, which I expect to limit competition.
CSL Limited (ASX: CSL)
Another blue chip share to look at is this biotherapeutics giant. I see a lot of value in CSL’s shares for long-term focused investors. This is due to the positive outlooks of its two businesses – CSL Behring and Seqirus. CSL Behring is the global leader in plasma therapies and Seqirus is the second biggest player in the influenza vaccines industry. I believe both businesses can grow strongly over the next decade thanks to favourable industry dynamics, their leading products, and high levels of investment in research and development.
SEEK Limited (ASX: SEK)
A final blue chip ASX share to consider buying right now is SEEK. I think the job listings giant is a great long-term option due to its strong market position and its investment in future growth opportunities. These investments and its fast-growing China business are expected to play a key role in SEEK achieving its ambitious aspirational revenue target of $5 billion later this decade. This compares to revenue of $1,537.3 million in FY 2019.
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More reading
- Australian businesses are running out of cash
- 3 ASX shares I’d buy if the market crashes again
- Consider these 3 quality ASX healthcare shares to buy now
- Invest like Warren Buffett by buying and holding these ASX 200 shares
- Why top brokers are urging you to buy SEEK and these other ASX stocks today
James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. and CSL Ltd. The Motley Fool Australia has recommended Cochlear Ltd. and SEEK Limited. 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 Give your portfolio a boost with these ASX blue chip shares appeared first on Motley Fool Australia.
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