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2 fantastic blue chip ASX shares to buy

BHP Group Ltd (ASX:BHP) and this ASX blue chip share have been named as buys. Here’s what you need to know…
The post 2 fantastic blue chip ASX shares to buy appeared first on The Motley Fool Australia. –

asx blue chip shares represented by pile of blue casino chips in front of bar graph

If you want to construct a balanced portfolio, having a few blue chip ASX shares in there would be a smart move.

But with so many to choose from, it can be hard to decide which ones to buy.

To narrow things down for you, I have highlighted two ASX blue chip shares that come highly rated:

BHP Group Ltd (ASX: BHP)

The first blue chip ASX share to look at is BHP. The Big Australian is one of the world’s largest miners and owns a diverse portfolio of world class and low cost operations across the globe.

BHP has exposure to a wide range of commodities, but chief among them is iron ore. Which certainly is a good thing right now with iron ore prices at such sky high levels. It is thanks largely to this that the company is being tipped to deliver a bumper profit result in FY 2021.

Ord Minnett is very positive on the mining giant and recently put a buy rating and $52.00 price target on its shares.

Its analysts believe the company is well-placed to outperform in the post-COVID environment. It expects this to lead to generous dividend payments.

Sonic Healthcare Limited (ASX: SHL)

Another blue chip to look at is Sonic Healthcare. It is a leading medical diagnostics company with operations across the world.

Sonic has been a very impressive performer in FY 2021. In October it released its first quarter update and revealed a 29% increase in revenue to $2,144 million and a massive 71% lift in EBITDA to $580 million.

This growth has been driven largely by strong demand for COVID-19 testing services. But also by positive performances across the rest of the business. 

Credit Suisse is a fan of the company. Earlier this month, the broker put an outperform rating and $39.00 price target on Sonic’s shares. It believes the company will outperform consensus estimates in FY 2021, especially if COVID-19 cases remain high globally and the strong demand for testing continues.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sonic Healthcare Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

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