Are you wanting to buy some blue chip ASX 200 shares for your portfolio?
If you are on the hunt for some quality names for your portfolio, then you may want to take a look at the shares listed below.
That’s because they have recently been named as top buys by a couple of Australia’s leading brokers. Here’s what they are saying about these companies right now:
QBE Insurance Group Ltd (ASX: QBE)
The team at Goldman Sachs is feeling very positive about this insurance giant and sees a lot of value in its shares right now.
This is due to the company’s positive exposure to the commercial rate cycle, improving performance in North America, and its undemanding valuation. It said:
QBE is a global commercial insurer with three main geographical operations across Australia Pacific, International (encompassing Europe) and North America. We are Buy-rated on QBE because 1) QBE has the strongest exposure to the commercial rate cycle. 2) QBE’s achieved rate increases continue to be strong & ahead of loss cost inflation. 3) North America on a pathway to improved profitability. 4) Valuation not demanding. 5) Strong ROE.
Goldman Sachs has a buy rating and $20.60 price target on QBE’s shares. This implies potential upside of 15% for investors over the next 12 months. The broker also expects 5%+ dividend yields in FY 2024 and FY 2025. This stretches the total potential return between now and this time next year to approximately 20%.
ResMed Inc. (ASX: RMD)
Bell Potter is very positive on this sleep disorder treatment company and believes it is well-placed for the future. Particularly given its expansion into the hospital and home care respiratory ventilation market and its ongoing investment in research and development (R&D). It said:
Since its creation in the late 1980’s, ResMed has been a leader in sleep therapy innovation, which has resulted in an installed base of over five million users globally. The OSA market is growing in the high-single digits and RMD is the largest player, ahead of Philips Respironics. RMD is also expanding in the hospital and home care respiratory ventilation market as well as in-house product development and invests 7% of its revenue into R&D.
Bell Potter has a buy rating and $36.00 price target on the ASX 200 blue chip share. This suggests that its shares could rise 13% over the next 12 months. A modest 1% dividend yield is also expected over the same period according to the broker.
The post Analysts say these strong ASX 200 blue chip shares are top buys today appeared first on The Motley Fool Australia.
Should you invest $1,000 in Qbe Insurance right now?
Before you buy Qbe Insurance shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Qbe Insurance wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
See The 5 Stocks
*Returns as of 5 May 2024
More reading
- 5 things to watch on the ASX 200 on Thursday
- QBE shares drop on half year update and strategic review
- Buy the ASX 200 healthcare stock with ‘decades of growth ahead’
- 3 of the best ASX 200 blue chip shares to buy now
- Top brokers name 3 ASX shares to buy next week
Motley Fool contributor James Mickleboro has positions in ResMed. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Leave a Reply