Looking for blue chip shares to buy? If you are, check out the ASX 200 shares listed below that have recently been named as buys and tipped to have meaningful upside potential.

Here’s what you need to know about these ASX 200 blue chip shares:

SEEK Limited (ASX: SEK)

The first blue chip ASX 200 share that has been named as a buy is Seek. As well as being the online job listing leader in Australia, it operates an online employment classifieds platform across several countries.

The team Morgans is very positive on the company and believe it is well-placed to build on FY 2022’s strong performance. Its analysts commented:

Of the classifieds players, we continue to see SEEK as the one with the most relative upside, a view that’s based on the sustained listings growth we’ve seen over the period. The tailwinds that have driven elevated job ads (~250k currently, +35% on pcp) and strong FY22 result appear to still remain in place, i.e. subdued migration, candidate scarcity and the drive for greater employee flexibility. With businesses looking to grow headcount in the coming months and job mobility at historically high levels according to the RBA, we see these favourable operating conditions driving increased reliance on SEEK’s products.

Morgans has an add rating and $29.40 price target on its shares.

Treasury Wine Estates Ltd (ASX: TWE)

Another blue chip ASX 200 share that could be a buy is Treasury Wine. It is the wine giant behind popular brands including 19 Crimes, Penfolds, and Wolf Blass.

The last few years have been very tricky for Treasury Wine. As well as battling the COVID pandemic, the company was effectively kicked out of the massive China market and forced to find a new destination for its premium wines. The good news is that this has been successful.

So much so, the team at Goldman Sachs believe the company is back on course to deliver strong earnings growth in the coming years. It explained:

With proven redirection of Penfolds China volumes as well as refocusing Treasury Americas on premium/luxury, TWE is now re-entering a growth phase with a more diverse and defensive business. We have increased our FY23-25e sales and NPAT by 1%-5% and 5%-13% and now expect the company to deliver ~16% NPAT 2022-25e CAGR. The company is trading at a 12m forward P/E of 22.6x, vs our TP implied P/E of 26.3x.

Goldman has a buy rating and $14.70 price target on the company’s shares.

The post Brokers rate these blue chip ASX 200 shares as buys appeared first on The Motley Fool Australia.

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More reading

• Morgans names 3 of the best ASX 200 shares to buy in November
• Here’s why brokers rate these blue chip ASX 200 shares as buys
• Top ASX shares to buy in November 2022
• 3 ASX 200 dividend shares you may have overlooked: Wilsons
• 5 ASX shares to buy for the Christmas rally: expert

Motley Fool contributor James Mickleboro has positions in 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 Treasury Wine Estates Limited. 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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The ASX lithium share sector has had a great start to the week today. Investors in the industry are getting a big boost with news out of China that could be very promising.

Firstly, let’s look at the state of play for the battery resource miners at the close of trade on Monday.

The Core Lithium Ltd (ASX: CXO) share price ripped 11.68% higher, while shares in Mineral Resources Limited (ASX: MIN) and Allkem Ltd (ASX: AKE) were up a respective 3.11% and 0.49%.

The smaller end of town also recorded strong surges, with the Liontown Resources Ltd (ASX: LTR) share price up 6.8%, Lake Resources NL (ASX: LKE) up 4.91% and Sayona Mining Ltd (ASX: SYO) closing 6.12% higher.

The exception today was the Pilbara Minerals Ltd (ASX: PLS) share price, which was down 1.49% at the close after trading 4.3% higher earlier in the day.

What’s going on with ASX lithium shares?

According to reporting by media, including Reuters, there are positive developments coming out of China.

The Asian superpower has reportedly eased some of its COVID-19 protocols – the country has been trying to keep the pandemic under control with lockdowns, which has been reducing economic growth.

Reuters reported that “the easing curbs included shortening quarantine times for close contacts of cases and inbound travellers by two days, as well as eliminating a penalty on airlines for bringing in infected passengers”.

Not only that, but Chinese regulators have reportedly told financial institutions to extend more support to property developers to help the real estate sector. This was according to two sources with “direct knowledge” of the matter.

There are 16 steps to help the industry, which include loan repayment extensions. According to reporting by Reuters, sources said that “if a loan is due to mature within six months, real estate companies can be allowed to defer repayments for one more year.”

The chief economist at Guotai Junan International, Hao Zhou, said:

The Chinese authorities provided a slew of supportive measures over the weekend to support the property sector, which is likely to improve the market sentiment towards the Chinese economy.

Weak property sales and investment suggest that a turnaround of (the) property outlook remains uncertain over the foreseeable future, which justifies the recent supportive measures from the Chinese authorities.

More economic activity in China could be a positive for ASX lithium shares because the Asian economic giant is a big consumer of lithium.

Australian and Indonesian lithium alliance

According to reporting by The Australian, Indonesia has started talking with Australia about a “plan to invest in a long-term lithium mining and processing partnership that could make the two countries the dominant global supplier of electric vehicle batteries”.

Indonesia reportedly has the world’s been  nickel reserves, a key ingredient for batteries. The country wants to ramp up the production of both electric vehicle batteries and cars.

This could further increase the demand for lithium in the future.

The post Why did ASX lithium shares have a dream run on Monday? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Leading brokers name 3 ASX shares to buy today
• Here are the 3 most traded ASX 200 shares on Monday
• Why is the Liontown share price roaring 7% higher?
• Why Accent, Block, Core Lithium, and Fortescue shares are pushing higher

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. 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 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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The S&P/ASX 200 Index (ASX: XJO) fell 0.16% today, but three tiny ASX shares stormed far higher.

The Tambourah Metals Ltd (ASX: TMB), BBX Minerals Ltd (ASX: BBX) and Invictus Energy Ltd (ASX: IVZ) share prices all exploded today.

Let’s take a look at why these ASX shares had such a top run today.

Tambourah Metals

Tambourah Metals shares closed 29% higher today. However, in earlier trade, they soared by as much as 74%. The company discovered multiple pegmatites at the RJ 101 lithium project in Western Australia. Tambourah is also purchasing a new lithium and gold exploration project in Tambina.

Commenting on the news today, managing director Paul Araujo said:

We are planning to identify and field test newly recognised pegmatite swarms at several locations within this large project area.

Invictus Energy

Invictus Energy shares soared 40% today. This followed the company releasing positive news from the Mukuyu-1 well in the Zimbabwe Cabora Bassa Basin. The well reached 3,618 metres measured depth (mMD). Elevated mud gas peaks up to 135 times above background gas baseline were discovered during drilling.

Commenting on the news, managing director Scott Macmillan said:

We have had further encouraging signs from the Mukuyu-1 well since drilling recommenced with multiple zones encountering elevated gas shows and fluorescence in our Upper Angwa primary target. 

BBX Minerals

BBX Minerals shares closed 17% in the green today. However, shares soared 32% in the afternoon before pulling back. BBX reported results from bioleaching test work at the EcoBiome Metals facility in the United States.

Test results revealed a “significant increase” in reported precious metals following bioleaching. Follow-up testing will be conducted.

The post 3 tiny ASX shares that exploded over 30% on big news today appeared first on The Motley Fool Australia.

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More reading

• Invictus Energy share price rockets again, up almost 250% in under a week
• Guess which ASX energy share is rocketing 150% on an ‘exciting development’

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. 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 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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The Qantas Airways Limited (ASX: QAN) share price closed 2.51% lower in trade on Monday.

Shares of the iconic airline closed at $5.82 after earlier making an intraday high of $5.94.

Meanwhile, the industrials sector, which Qantas is a part of, also struggled on Monday. In fact, the S&P/ASX 200 Industrials Index (ASX: XNJ) was the worst-performing sector on the market today, losing 2.28%.

Qantas rival Air New Zealand Limited (ASX: AIZ) also finished lower with a 1.35% loss.

Finally, the S&P/ASX 200 Index (ASX: XJO) finished the day almost laying flat, losing 0.16%.

So why did Qantas shares lag the market on Monday? Let’s investigate.

What went on with the Qantas share price today?

Qantas shares slipped on Monday as the airline contends with an underpayment claim being brought against it in Federal Court, The Australian Financial Review (AFR) reported on Sunday.

The claim is being initiated by Qantas engineers who state the airline breached the Fair Work Act as well as the graded wage structure in their industrial agreements. These breaches allegedly came in the form of engineers being demoted to lower positions in the pay scale and receiving lower salaries as a result, the reporting said.

It was also noted by AFR that the new lawsuit could be seen as a continuation of Qantas’ previous disputes with its engineers. This included a claim of alleged underpayment of salaries made by The Australian Licensed Aircraft Engineers Association (ALAEA) in 2019 that was later remediated by the airline.

When a Qantas spokesperson was asked by AFR for comment, they declined and instead referred to comments they had made relating to the earlier case in 2019:

Qantas is committed to paying its employees in accordance with relevant agreements. In this case, there is a complicated system that determines how our licensed engineers move between pay brackets Errors in this system could result in a combination of under and overpayments to individuals.

Qantas has already made adjustments to pay levels where required. What is at issue is the correct level of backpay, which Qantas has been working in good faith to determine, but is now engaged in needless court proceedings.

Qantas share price snapshot

The Qantas share price has gained around 16.07% year to date. That’s soundly beating the ASX 200 Index, which is down by around 4% over the same period.

The company’s market capitalisation is around $11 billion.

The post Why did the Qantas share price have such a lousy start to the week? appeared first on The Motley Fool Australia.

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More reading

• Are ASX share investors getting their mojo back?
• How does a weak Aussie dollar impact Qantas shares?
• Macquarie tips $800m buyback for Qantas shares
• Qantas boss says ‘we’re back’, but should you buy the ASX airline share?
• Planes, rains and automobiles: Fund names 3 ASX shares to back right now

Motley Fool contributor Matthew Farley has no position in any of the stocks mentioned. 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 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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