2 strong blue chip ASX 200 shares to buy after the market selloff according to analysts

Three people in a corporate office pour over a tablet, ready to invest.

Three people in a corporate office pour over a tablet, ready to invest.

While the recent share market weakness has been disappointing, one positive is that it has dragged down a number of high quality ASX 200 shares to attractive levels.

For example, the two ASX 200 shares listed below have been rated as buys by Citi and tipped to climb meaningfully from current levels. Here’s what its analysts are saying:

CSL Limited (ASX: CSL)

The first blue chip ASX 200 share to look at is CSL. This biotherapeutics giant could be a top option for investors after the selloff. Particularly given how Citi believes a number of potential positive catalysts that are on the horizon could be supportive of a share price recovery.

The broker commented: “Over the next six months, we expect the market to focus on the strong underlying plasma market demand, and the closure the Vifor deal, both of which should lead to strength in the share price.”

Citi currently has a buy rating and $335.00 price target on the company’s shares. Based on the latest CSL share price of $267.72, this suggests potential upside of 25% for investors.

Goodman Group (ASX: GMG)

Another ASX 200 share that could be a buy after the market selloff is Goodman Group. It is a leading integrated commercial and industrial property company with a portfolio of high quality properties.

Citi is a big fan of the company and is forecasting double-digit earnings growth over the coming years thanks to strong demand for its properties. In light of this, the broker is likely to see the recent weakness in the Goodman share price as an opportunity to buy this quality company at a big discount to recent levels.

The broker said: “We continue to see guidance as conservative, with our EPS estimates rising 5% in FY22 and c. 6% thereafter. We now forecast c. 23% EPS growth in FY22 and c. 19% EPS CAGR from FY21-FY24. Our TP increases 5% on higher asset values and higher earnings. GMG remains OUR top pick in the sector.”

Citi has a buy rating and lifting its price target to $29.50 on its shares. Based on the current Goodman share price of $20.67, this implies potential upside of almost 43% for investors.

The post 2 strong blue chip ASX 200 shares to buy after the market selloff according to analysts appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended 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 Scott Phillips.

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