3 excellent ASX 200 blue chip shares to buy in 2022

a woman looks through a magnifying glass that englarges her eye and holds her hand to her face with her mouth open as if looking at something of great interest or surprise.

If you’re wanting to build a strong portfolio, then having a few blue chips in there could be a good starting point.

But which blue chip ASX 200 shares could be in the buy zone for 2022? Here are three to consider:

Qantas Airways Limited (ASX: QAN)

Times may be hard for the airline operator because of COVID-19, but a number of brokers remain very positive on the investment opportunity here. This is due largely to the belief that Qantas will come out the other side of the pandemic in an even stronger position. One of those is the team at UBS. It is very positive on the company and recently put a buy rating and $6.20 price target on its shares. This compares to the latest Qantas share price of $4.94.

Telstra Corporation Ltd (ASX: TLS)

Another blue chip ASX 200 share to consider is Telstra. After a lengthy period of underperformance caused by the NBN rollout, the telco giant is now expecting to return to growth again in the coming years. In fact, Telstra’s new T25 strategy is targeting mid-single digit underlying EBITDA and high-teens underlying earnings per share (EPS) compound annual growth rates (CAGR) from FY 2021 to FY 2025. This has many analysts believing that Telstra will soon be able to increase its dividend for the first time in almost a decade. Goldman Sachs has a buy rating and $4.40 price target on its shares. This compares to the current Telstra share price of $4.15.

Westpac Banking Corp (ASX: WBC)

A final blue chip ASX 200 share that could be in the buy zone is Westpac. Its shares have recently been sold off amid concerns over its margin outlook due largely to aggressive competition for home loans. While its outlook is undoubtedly softer than hoped, the team at Morgans believe the selloff has been an overreaction. In light of this, the broker feels its shares offer compelling value for investors at present. Morgans has an add rating and $29.50 price target on the company’s shares. The Westpac share price last traded at $21.20.

The post 3 excellent ASX 200 blue chip shares to buy in 2022 appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended Westpac Banking Corporation. 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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