If you’re wanting to boost your portfolio with some blue chips, then you might want to look at the ASX shares listed below.
Here’s why these ASX blue chip shares are highly rated:
SEEK Limited (ASX: SEK)
SEEK is the leading job listings company in the ANZ region. It also has a number of growing businesses around the globe.
In respect to the former, during the first half of FY 2021, the company was the dominant force in the local market. It was averaging 35 million monthly visits and 160,000 active hirers. This represents almost a third of all placements in the region and is five times greater than its nearest rival.
It is thanks to this dominance that SEEK has been tipped to benefit greatly from Australia’s strong economic recovery from the pandemic. With the unemployment rate tipped to fall materially over the next 12 months, job ad volumes look set to increase and underpin strong top line growth.
Macquarie is positive on SEEK. It currently has an outperform rating and $40.00 price target on its shares.
Sonic Healthcare Limited (ASX: SHL)
Sonic Healthcare is one of the world’s leading providers of medical diagnostics. Over the last few decades it has earned a reputation for excellence in pathology, diagnostic imaging, and primary care medical services across operations in the ANZ, European and North American markets.
Due largely to strong demand for COVID-19 testing services, it is expected to deliver a very strong full year result this month. And with COVID testing unlikely to be going away any time soon, the company appears well-placed to benefit from elevated testing volumes in FY 2022 and potentially even FY 2023.
Combined with the strength of the rest of the business and a balance sheet that would support earnings accretive acquisitions, the future looks bright for Sonic.
Credit Suisse is very positive on Sonic and has an outperform rating and $43.50 price target on its shares.
The post 2 excellent ASX 200 blue chip shares named as buys appeared first on The Motley Fool Australia.
Should you invest $1,000 in Sonic right now?
Before you consider Sonic, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Sonic wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of May 24th 2021
More reading
- 2 ASX shares that could join the acquisition frenzy
- 2 COVID-19 ASX shares that could be buys
- 2 fantastic ASX shares named as buys by analysts
- 2 excellent ASX 200 healthcare shares named as buys
- 2 buy-rated ASX 200 dividend shares with attractive yields
Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended SEEK Limited and Sonic Healthcare 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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