Although the S&P/ASX 50 index may not be as well-known as the S&P/ASX 200 Index (ASX: XJO), it is arguably just as important.
This illustrious index is home to 50 of the largest companies on the Australian share market. These include household names and companies that are regarded as true blue chip shares.
Not all shares on the index are necessarily in the buy zone, but two that come highly rated are listed below:
CSL Limited (ASX: CSL)
The first ASX 50 share to consider is CSL. This leading biotechnology company manufactures and develops a portfolio of leading therapies and vaccines. This includes flu vaccines, immunoglobulins, and countless other plasma-based products. It also operates one of the most wide-reaching plasma collection networks.
While plasma collections have been tough during the pandemic due to social distancing, lockdowns, and government stimulus (people often donate for the money), this headwind is only expected to be temporary and not structural. In light of this, as the crisis eases, collections should become easier and its costs of sales will reduce again.
In light of this, a number of brokers believe the recent weakness in the CSL share price is an opportunity to buy the shares of one of Australia’s highest quality companies at an attractive price.
One of those brokers is Credit Suisse. Last week the broker upgraded CSL’s shares to an outperform rating with a $315.00 price target.
Goodman Group (ASX: GMG)
Another ASX 50 share to look at is Goodman Group. It is one of the world’s leading integrated commercial and industrial property companies that owns, develops, and manages industrial real estate across a total of 17 countries.
Goodman has been a very positive performer over the last decade. This has been driven by its outstanding portfolio of assets that have exposure to industries benefiting from structural tailwinds. These include booming areas of the economy such as ecommerce, logistics, and data centres.
It was thanks to the quality of its portfolio that Goodman recently released a strong half year result. For the six months ended 31 December, it reported a 16% increase in operating profit to $614.9 million.
Macquarie was pleased with its first half update and is positive on its outlook. As a result, it recently upgraded its shares to an outperform rating with a price target of $20.39.
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More reading
- ASX 200 Weekly Wrap: ASX 200 gets its mojo back
- 3 high quality ASX shares to buy next month
- AstraZeneca COVID-19 vaccine trial data results in revised efficacy rate
- Where to reinvest your Telstra (ASX:TLS) dividends
- Is the CSL (ASX:CSL) share price on the road to recovery?
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 has no position in any of the stocks mentioned. 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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