Cochlear Limited (ASX:COH) and this ASX 200 blue chip share could be great options for investors. Here’s what you need to know…
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Are you wanting to buy some blue chip ASX 200 shares for your portfolio? If you are, then I would suggest you check out the two listed below.
These quality companies could have the potential to grow at a solid rate over the next decade. As a result of this, they have been tipped as blue chips to buy. Here’s why:
Cochlear Limited (ASX: COH)
Cochlear is one of the world’s leading developers, manufacturers, and distributors of cochlear implantable devices for the hearing impaired.
It has achieved this position thanks to its portfolio of world-class products which has been developed following its high level of investment in research and development (R&D) over the last decade. But management isn’t resting on its laurels. Each year it spends around 12% of its annual revenue on R&D activities to ensure that it remains ahead of the pack. This also creates a significant barrier to entry for any would-be competitors.
Looking ahead, Cochlear appears well-placed for growth in the future thanks to its aforementioned portfolio and the ageing populations tailwind. With populations around the world ageing, demand for cochlear implantable devices is expected to grow strongly over the next couple of decades.
Macquarie is a fan of the company. Its analysts currently have an outperform rating and $245.00 price target on Cochlear’s shares.
Lendlease Group (ASX: LLC)
Another blue chip ASX 200 share to look at is this global property and infrastructure company.
Lendlease could be worth considering due to its major transformation. This transformation has seen the company divest its struggling engineering business and undertake a significant new strategy. This strategy is changing its earnings mix and business model to be more like Goodman Group (ASX: GMG). And given Goodman’s success over the last decade, this could be a smart move by management.
One broker that is a fan of the strategy shift is Goldman Sachs. It currently has a buy rating and $16.54 price target on the company’s shares. Goldman feels that Lendlease’s shares could re-rate to higher multiples once it starts to demonstrate that it is executing its new strategy successfully.
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