Looking for blue chips? Check out these options…
The post 2 top blue chip ASX 200 shares rated as buys appeared first on The Motley Fool Australia. –
If you want to boost your portfolio with some blue chips, then you might want to take a look at the ASX 200 shares named below.
Here’s why these two blue chip ASX 200 shares are highly rated:
Goodman Group (ASX: GMG)
The first blue chip ASX 200 share to look at is Goodman Group. It is a leading integrated commercial and industrial property company.
Goodman has a world class portfolio of in-demand warehouses, large scale logistics facilities, and business and office parks. In fact, demand is so strong that it currently boasts an occupancy rate of 98%. This helped underpin a 15% increase in operating earnings to $1.22 billion in FY 2021.
Looking ahead, the company appears well-placed to benefit from like for like rental growth and its significant development pipeline.
Citi is a big fan of Goodman. It currently has a buy rating and $26.00 price target on the company’s shares.
SEEK Limited (ASX: SEK)
Another blue chip ASX 200 share to look at is SEEK. It is the leading job listings company in the ANZ region and has a number of growing businesses around the globe.
It was on form in FY 2021 thanks to its domination of the ANZ market. For example, the SEEK ANZ business reported record ad volumes in the second half of the year amid easing COVID-19 restrictions. This led to SEEK reporting an average of 40 million monthly site visits, which represents 10% growth on pre-COVID-19 levels.
This ultimately led to SEEK reporting a 1% increase in revenue to $1,591 million and a 58% jump in net profit after tax excluding significant items to $141 million for the year.
The good news is that the future looks bright for SEEK thanks to its strong market position and Australia’s recovery from the pandemic. With unemployment levels tipped to fall materially, job ad volumes look set to increase significantly once the economy opens up again.
A recent note out of Macquarie reveals that its analysts have an outperform rating and $37.00 price target on the company’s shares.
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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 SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.