Investors that are looking for some new shares to buy might want to look at the blue chips listed below.
These three blue chip ASX 200 shares have been tipped to climb meaningfully higher from where they trade today. Here’s what you have to know about them:
The first blue chip for investors to look at is one of the world’s leading biotechnology companies. CSL comprises the CSL Behring and Seqirus businesses, which are leaders in their respective fields – plasma therapies and vaccines. The company is also aiming to acquire Vifor Pharma in a blockbuster deal that will expand its product portfolio and pipeline. All in all, this deal, its billion-dollar per annum spend on R&D, and improving plasma collections, appear to have positioned CSL well for long term growth.
Yesterday the team at Citi retained its buy rating and $335.00 price target on CSL’s shares. Its analysts believe that plasma collections will bounce back beyond pre-pandemic levels this year. Citi expects this to be a big boost to investor sentiment.
Another blue chip ASX 200 share that could be in the buy zone is Goodman. It is a global integrated commercial and industrial property company with a world class property portfolio. These properties have exposure to key growth markets such as ecommerce and are in high demand. Thanks to this strong demand and its lucrative development pipeline, Goodman has been tipped to continue its strong growth long into the future.
Citi is also positive on Goodman’s future. Its analysts currently have a buy rating and $29.50 price target on its shares. The broker recently stated that it expects Goodman to outperform its upgraded earnings guidance in FY 2022.
A final blue chip ASX 200 share to look at is ResMed. It is a sleep treatment focused medical device company which has been tipped to continue its stellar growth long into the future. This is thanks to its world class products, significant market opportunity, the growing prevalence of sleep disorders, and, as Morgans highlights, its “unique, patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.”
It is partly because of the latter that Morgans is positive on the company and has an add rating and $40.46 price target on its shares.
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