One notable believer in buy and hold investing is legendary investor Warren Buffett.
In fact, Mr Buffett has famously quipped that his favourite holding period is forever. And given the success he has had over the last six decades, it certainly can pay to listen to his advice.
The Oracle of Omaha also has a penchant for blue chip shares and countless can be found in his portfolio.
With that in mind, listed below are two shares that could be top blue chip buy and hold options. Here’s what you need to know about them:
CSL Limited (ASX: CSL)
CSL is one of the world’s largest biotechnology companies and regarded by many as the highest quality company on the Australian share market. It has consistently grown its sales and earnings at a solid rate for many years and has been tipped to continue this positive form in the future.
This is thanks to its leading therapies, growing plasma collection network, and its burgeoning research and development (R&D) pipeline. This pipeline contains a number of therapies that have the potential to generate billions of dollars in sales over the next decade if their trials are successful.
UBS is positive on its R&D pipeline and notes that it has underpinned the majority of its growth in the past few years. Pleasingly, it appears to believe this can continue and has put a buy rating and $346.00 price target on its shares.
SEEK Limited (ASX: SEK)
SEEK is the dominant job listings company in the ANZ region and has a number of growing businesses around the world. Chief among them is the Zhaopin business in China. It has been growing at a very strong rate in recent years and is quickly becoming an integral part of the SEEK business.
Zhaopin, combined with its investments in growth opportunities, is expected to play a key role in the company achieving its aspirational revenue target of $5 billion later this decade. This will be a material increase on the revenue of $1,577.4 million it reported in FY 2020.
Analysts at Credit Suisse are positive on the company’s future and have recently put an outperform rating and $28.50 price target on its shares.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
More reading
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- Why CSL, Lovisa, Lynas, & Syrah shares are dropping lower
- ASX 200 down 0.3%: CSL sinks, Zip’s Facebook deal, IGO rockets
- Why the IGO (ASX:IGO) share price shot up 18% in early trade today
- CSL (ASX:CSL) share price on watch after terminating COVID-19 vaccine trial
James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has recommended SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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