These blue chip shares could be buys…
The post 3 buy-rated blue chip ASX shares appeared first on The Motley Fool Australia. –
If you’re looking to bolster your portfolio with some blue chip shares, you may want to look at the three listed below.
Here’s why these blue chip ASX shares are highly rated right now:
The first blue chip ASX share to look at is Goodman Group. It is a leading integrated commercial and industrial property company with a portfolio of in-demand properties. These properties have exposure to key growth markets such as ecommerce and logistics. Thanks to strong demand and a material development pipeline, Goodman has been tipped to continue its solid growth in the coming years.
The team at Citi are very positive on its outlook. Its analysts currently have a buy rating and $26.00 price target on the company’s shares.
REA Group Limited (ASX: REA)
Another ASX blue chip share to look at is REA Group. It is a leading provider of property and property-related services via websites and mobile apps across Australia and Asia. It is best-known for the realestate.com.au website which is dominating the ANZ market with an average of 121.9 million monthly visits to its website in FY 2021. This was up 35% year on year and is 3.3 times more than its nearest competitor. Looking ahead, thanks to its dominant market position, the thriving housing market, and new acquisitions and revenue streams, REA Group appears well-positioned for long term growth.
Macquarie is very positive on the company’s outlook. The broker currently has an outperform rating and $185.00 price target on its shares.
A final blue chip ASX share to look at is this leading job listings company. Like REA Group, it is the leader in its field in the Australian market. It was thanks to this leadership position and a rebound in listing volumes that SEEK delivered a strong result in FY 2021. It reported a 1% increase in revenue to $1,591 million and a 58% jump in net profit after tax excluding significant items to $141 million.
Macquarie is also very positive on SEEK and expects it to benefit greatly as Australia’s unemployment level falls. The broker currently has an outperform rating and $37.00 price target on SEEK’s shares.
Should you invest $1,000 in SEEK right now?
Before you consider SEEK, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and SEEK wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of August 16th 2021
Motley Fool contributor James Mickleboro owns shares of 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 REA Group Limited and SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.