These blue chip ASX 200 shares could be buys after the selloff…
The post Should you buy these top blue chip ASX 200 shares after the market selloff? appeared first on The Motley Fool Australia. –
If youâre looking to take advantage of the recent market weakness, then you may want to check out the two blue chips listed below.
Hereâs why these blue chip ASX 200 shares are highly rated right now:
CSL LimitedÂ (ASX: CSL)
The first blue chip ASX 200 share to look at is CSL. It is a leading biotechnology with a portfolio of life-saving and lucrative therapies.
These products are generating billions in sales each year but but management isn’t settling for that. Each year, the company invests in the region of 10% to 11% of its sales back into research and development activities. This ensures that CSL has a pipeline of products under development with the potential to save lives and underpin growing revenue.
CSL is also aiming to acquire Vifor Pharma in the coming months. This will bolster its portfolio and development pipeline with key renal therapies.
Analysts at Citi are confident in the company’s outlook. Particularly given the “continued improvement in plasma collection and strong underlying demand.” Citi has aÂ buy rating and $335.00 price target on CSLâs shares.
Wesfarmers LtdÂ (ASX: WES)
Another ASX 200 blue chip share that could be a top option for investors after the selloff is Wesfarmers. Even before today’s probable decline, this conglomerate has seen its shares fall 27% in 2022.
That team at Morgans is likely to see this as a buying opportunity. Its analysts recently retained their add rating with a price target of $58.40.
Morgans is a fan of the company’s portfolio of businesses. These include retailers such as Bunnings, Kmart, and Priceline Pharmacy, and a collection of chemicals businesses. Combined with its strong management team and equally strong balance sheet, the broker sees Wesfarmers as a great long term pick.
It commented: “We continue to see WES as a long-term, core portfolio holding with a strong mix of businesses, highly regarded management team and a healthy balance sheet.”
The post Should you buy these top blue chip ASX 200 shares after the market selloff? appeared first on The Motley Fool Australia.
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* 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
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*Returns as of January 12th 2022
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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 positions in and has recommended CSL Ltd. The Motley Fool Australia has positions in and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.