Analysts say these high quality blue chip ASX 200 shares are buys

If you have room in your portfolio for a blue chip ASX 200 share or two, then take a look at the top blue chips listed below.

Here’s why these ASX 200 shares are highly rated:

Goodman Group (ASX: GMG)

The first blue chip ASX 200 share to look at is Goodman Group.

It is an industrial property company with a world class portfolio comprising warehouses, large scale logistics facilities, and business and office parks. These properties are in demand and count some of biggest companies in the world as tenants.

But management isn’t settling for that. The company has a material development pipeline that looks set to drive further solid growth in the coming years.

And with demand remaining strong, Goldman Sachs is bullish on the company. It commented:

GMG continues to demonstrate its strong platform and positioning as evident in today’s [FY22] 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.

Goldman has a buy rating and $25.40 price target on the company’s shares.

Telstra Corporation Ltd (ASX: TLS)

Another ASX 200 blue chip share that is rated highly by analysts is telco giant Telstra.

For example, Morgans is very positive on the telco giant due to the company’s increasingly positive outlook and attractive valuation. It recently commented:

TLS currently trades on ~7x EV/EBITDA. However some of TLS’s high quality long life assets like InfraCo are worth substantially more, in our view. We don’t think this is in the price so see it as value generating for TLS shareholders. This, free option, combined with likely reputational damage to its closest peer, following a major cybersecurity incident, means TLS looks well placed for the year ahead.

Morgans has an add rating and $4.60 price target on Telstra’s shares. The broker is also forecasting fully franked dividend yields greater than 4% over the coming years.

The post Analysts say these high quality blue chip ASX 200 shares are buys appeared first on The Motley Fool Australia.

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More reading

• Here’s how I allocate my ASX share portfolio and why
• Headwinds for Telstra shares are now behind them: expert
• Which ASX 200 shares could benefit from the federal budget?
• 5 ways to be carefree during the next ASX share market downturn
• Could chasing high yields mean missing out on potentially top-notch ASX dividend shares?

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 Corporation 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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