While 2018 may not have been a great year for blue chips like Commonwealth Bank of Australia (ASX: CBA) and Telstra Corporation Ltd (ASX: TLS), I wouldn't let that put you off investing in the space this year.
Three blue chip shares that I think could be market beaters in 2019 as follows:
Coles Group Ltd (ASX: COL)
Although it isn't the most exciting company on the share market to consider, I think the newly listed supermarket giant could be a good option for investors right now due to its attractive valuation, defensive qualities, and generous dividend yield. Based on its current share price, I estimate that Coles' shares are currently offering a forward fully franked 5.4% yield.
CSL Limited (ASX: CSL)
Due to a reasonable pullback in its share price during the last quarter of 2018, I think this biotherapeutics company has a strong chance of outperforming the market again this year. Especially with management predicting another year of solid profit growth. It expects the company to post a net profit after tax in the range of US$1,880 million to US$1,950 million. This will be an increase of 10% to 14% on FY 2018's underlying result. Looking ahead, I believe the quality of its core business and its pipeline of lucrative products means this level of growth could be maintained for some time to come.
Qantas Airways Limited (ASX: QAN)
If oil prices remain low in 2019 then I think this airline operator could be positioned perfectly to deliver another bumper profit result. Especially after recent data out of Australia's Bureau of Infrastructure, Transport and Regional Economics showed that there have been strong airfare rises across most routes and class types in December. I expect the combination of this and lower oil prices could drive it shares higher this year.
