Experts name 2 blue chip ASX 200 shares to buy

If you’re looking to add some high quality shares to your investment portfolio, then you might want to look at the blue chip ASX 200 shares listed below.

Here’s why experts are tipping these blue chip ASX 200 shares as ones to buy right now:

Goodman Group (ASX: GMG)

Goodman could be a blue chip ASX 200 share to buy. It is a global integrated commercial and industrial property company with a growing world class portfolio of in-demand properties.

Goodman continued its strong growth in FY 2022, delivering a 25.3% increase in operating profit to $1,528 million. It also revealed that its development work in progress was up 28% to $13.6 billion.

Goldman Sachs was impressed with its results and remains very positive on the future. In response to the release, the broker commented:

GMG continues to demonstrate its strong platform and positioning as evident in today’s result, supported by our expectation of a strong outlook for the Industrial sector more broadly, with a number of favourable fundamentals underpinning future long-term demand for industrial space. We expect solid rental growth as demand for high quality logistics space continues to outpace available supply.

Goldman has a buy rating and $25.40 price target on its shares.

SEEK Limited (ASX: SEK)

Another blue chip ASX 200 share that could be in the buy zone is Seek. It is of course the ANZ region’s leading job listings company.

After a difficult time during the pandemic, Seek has bounced back incredibly strongly. For example, during FY 2022, the company delivered a 47% increase in revenue to $1,116.5 million and an 81% jump in net profit after tax to $245.5 million.

This went down well with the team at Morgans, which upgraded its shares following the release. Morgans commented:

It was a strong FY22 result overall in our view, however additional IT project spend (platform unification) was a surprise to a degree. We lower our FY23-FY25 EPS estimates by ~7-14% factoring in the provided guidance, additional incremental IT investment spend, and further conservatism around opex normalisation/spend over our forecast period. Our price target is lowered $29.40 on the above changes. Whilst we expect job ad volume growth to normalise, we believe SEEK has levers to pull (i.e. price) to continue to drive yield. We move to an ADD recommendation.

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

The post Experts name 2 blue chip ASX 200 shares to buy appeared first on The Motley Fool Australia.

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More reading

• Here are 2 ASX shares that Morgans rates as buys
• 3 buy-rated ASX 200 shares that analysts love
• Top brokers name 3 ASX shares to buy today
• Goldman Sachs tips huge returns for the Goodman share price
• Why Bendigo and Adelaide Bank, Challenger, Seek, and Sims shares are dropping

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. 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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