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2 blue chip ASX 200 shares analysts love

Here’s why analysts think that ResMed Inc. (ASX:RMD) and this blue chip ASX 200 share could be top options for investors…
The post 2 blue chip ASX 200 shares analysts love appeared first on The Motley Fool Australia. –

If you’re looking for blue chip ASX 200 shares to buy, then you might want to look at the ones listed below.

These shares have strong market positions, robust business models, and positive long term growth potential. Here’s why they have been rated as buys:

ResMed Inc. (ASX: RMD)

The first blue chip ASX 200 share to look at is ResMed. It is one of the world’s leading medical device companies with a focus on the sleep treatment market.

ResMed’s digital health technologies and cloud-connected medical devices transform care for people with sleep apnoea, COPD, and other chronic diseases. In addition to this, its comprehensive out-of-hospital software platforms support caregivers who help people stay healthy in the home or care setting of their choice.

Combined, this is improving the quality of life of sufferers, reducing the impact of chronic disease, and lowering costs for consumers and healthcare systems.

With education around sleep disorders increasing, more and more sufferers are seeking treatment options. This puts ResMed in a great position to benefit, which should be supported by the structural shift to home healthcare.

Credit Suisse is positive on the company and currently has an outperform rating and $29.50 price target on its shares.

Wesfarmers Ltd (ASX: WES)

Wesfarmers is the conglomerate that owns and operates a diverse group of businesses across several sectors. This includes Bunnings, Catch, Covalent Lithium, Kmart, Officeworks, and Target. Collectively, these businesses are in fine form in FY 2021, supporting strong sales, profit, and dividend growth.

The company is also generating strong free cash flow, which is adding to its acquisition firepower.

In respect to that, according to a recent note out of Goldman Sachs, its analysts believe Wesfarmers has over $8 billion in excess of credit requirements, prior to the Mt Holland development. It feels this gives it a lot of options when it comes to making value accretive acquisitions.

It is partly because of this that Goldman currently has a buy rating and $59.70 price target on the company’s shares.

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Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

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The post 2 blue chip ASX 200 shares analysts love appeared first on The Motley Fool Australia.

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