Buy, hold, sell: BHP, CSL, and Woodside shares

There are a lot of blue-chip ASX 200 shares to pick from on the Australian share market.

But not all are necessarily buys right now.

So, to narrow things down, let’s see what analysts are saying about three of the most popular shares on the ASX 200 index. Here’s what you need to know:

BHP Group Ltd (ASX: BHP)

BHP is the world’s largest mining company and a major producer of commodities such as iron ore, copper, and metallurgical coal.

One positive currently working in its favour is the strength in copper prices. Copper is widely viewed as one of the most important commodities for electrification, renewable energy infrastructure, and electric vehicles. With demand expected to rise strongly over the coming decade, BHP’s significant exposure to copper could become an increasingly valuable part of its portfolio.

But does this make BHP shares a buy?

Morgan Stanley has an overweight rating on the mining giant with a $56.00 price target. Meanwhile, Ord Minnett has an accumulate rating with a $54.00 price target. This compares favourably to the current BHP share price of $49.39.

CSL Ltd (ASX: CSL)

CSL is one of Australia’s largest healthcare companies and a global leader in plasma therapies, vaccines, and biotechnology products.

Unlike some other ASX heavyweights, CSL has not enjoyed much positive momentum recently. Its shares have come under significant pressure and are trading well below their historical highs, which has left the company looking relatively cheap compared to its long-term valuation.

Is this an opportunity to buy a high-quality healthcare business with global operations, a large research pipeline, and strong positions in specialised treatment markets?

Despite its struggles, brokers remain positive on CSL and see value in its shares. Morgans has a buy rating on the healthcare giant with a $241.34 price target, while UBS also has a buy rating and a $235.00 price target. This compares to the current CSL share price of $139.86.

Woodside Energy Group Ltd (ASX: WDS)

Woodside is Australia’s largest oil and gas producer and generates the bulk of its earnings from global energy markets.

One of the major positives currently supporting the company is the strength in oil prices, which are trading above US$100 per barrel due to the war in the Middle East. Higher oil prices typically translate into stronger cash flow for energy producers, which can support dividends and investment in new projects.

Does this make Woodside shares a buy?

Well, due to recent share price strength, brokers are largely on the fence with this one. UBS currently has a neutral (hold) rating on the company with a $28.10 price target, while Macquarie also has a neutral rating with a $30.00 price target. This compares to the current Woodside share price of $31.51.

The post Buy, hold, sell: BHP, CSL, and Woodside shares appeared first on The Motley Fool Australia.

More reading

• 3 ASX 200 shares at 52-week lows: Buy, hold, or sell?
• If the oil price remains above US$100, Woodside shares could be raining dividends before Christmas
• Should you buy the dip on ASX mining shares?
• Rio Tinto shares charge higher on big copper news
• Should I invest $2,000 in the VAS ETF?

Motley Fool contributor James Mickleboro has positions in CSL and Woodside Energy Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended BHP Group and CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.