If you’re looking for blue chip ASX 200 shares to buy, then you may want to check out the two listed below that brokers are particularly positive on.
Hereâs what you need to know about them:
Goodman Group (ASX: GMG)
The first ASX 200 blue chip share to buy could be Goodman. It is a leading industrial property company with a world class portfolio of assets spanning the globe.
It has been growing at a strong rate for years and shows no signs of slowing. In fact, management recently upgraded its earnings guidance for FY 2023. This has been driven by ongoing tailwinds for industrial property underpinning strong market rent growth.
This went down well with Citi, which responded by retaining its buy rating with an improved price target of $24.30. Citi commented:
The update highlighted ongoing tailwinds for industrial with strong market rent growth improving the future rental upside on GMGâs book. Record low vacancy has driven ongoing development demand resulting in a strong development workbook with $13bn in WIP, with near-term growth in developments from less time taken to develop (which will boost annual earnings).
Telstra Corporation Ltd (ASX: TLS)
Another ASX 200 blue chip share that is rated highly by analysts is telco giant Telstra.
Morgans is very positive on the company due to favourable industry conditions and the potential for value to be unlocked from asset divestments. Its analysts currently have an add rating and $4.70 price target on its shares. The broker commented:
Telco has the strongest tailwinds in a decade with an increasingly rational market, price rises across the majors and the criticality of telco increasingly recognised. The last major mobile operator Vodafone/TPG increased mobile prices by ~$5 per month in January 2023 and all key players are behaving economically rational. This combines with catalysts including the potential for InfraCo value release following the legal restructure.
The post 2 ASX 200 blue chip shares that brokers love appeared first on The Motley Fool Australia.
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More reading
- ‘Bright outlook’: 2 ‘high quality’ ASX 200 shares to pounce on nowÂ
- Broker says mobile price increases are good news for the Telstra share price
- 5 things to watch on the ASX 200 on Tuesday
- I think this ASX 200 share is heavily underrated by the market
- 3 reasons I’m tipping the Telstra share price to keep rising in 2023
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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool Australia has recommended Goodman Group. 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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