The Australian share market is home to a good number of high quality blue chip shares for investors to choose from.
Three blue chips which I think would be great options for a balanced portfolio are named below:
Here’s why I like them:
CSL Limited (ASX: CSL)
My favourite blue chip share on the Australian market remains this global biotherapeutics giant. CSL is made up of two world class businesses – CSL Behring and Seqirus. CSL Behring is the global leader in plasma therapies, whereas Seqirus is the second biggest in the influenza vaccines industry. I believe both businesses have strong long-term growth potential thanks to their leading therapies and lucrative research and development pipelines. So, with the CSL share price down materially from its 52-week high, now could be an opportune time to make a long term investment.
REA Group Limited (ASX: REA)
REA Group is another of my favourite blue chip shares. I was very impressed with its performance during the housing market downturn and the way it still achieved strong profit growth despite the tough trading conditions. While the housing market is now under pressure because of the pandemic, I’m optimistic that it will recover swiftly once the crisis passes. This could mean a rebound in property listings in 2021. Which combined with price increases, new revenue streams, and cost cutting, could see REA Group’s growth accelerate over the coming years.
Telstra Corporation Ltd (ASX: TLS)
I’ve been very impressed with the way Telstra has turned around its fortunes over the last 18 months and feel it is well placed to return to growth in the near future. This is due to the return of rational competition in the telco industry, its cost-cutting plans, and its leadership position in 5G. Another positive is that I believe the dividend cuts are over and its current payout is sustainable. In light of this, now could be a good time to consider a patient long-term investment in the company’s shares.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia has recommended REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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