If you're aiming to build a balanced portfolio, having a few blue chip ASX shares in there could be a smart move.
But which blue chip ASX 200 shares should you buy? Two that are highly rated are listed below:
Image source: Getty Images
CSL Limited (ASX: CSL)
The first blue chip ASX 200 share to look at is biotechnology giant CSL.
CSL has a focus on rare and serious diseases through its CSL Behring business and influenza vaccines through its Seqirus business.
CSL Behring has a wide range of innovative therapies. These are used to treat immunodeficiencies, bleeding disorders, hereditary angioedema, Alpha 1 antitrypsin deficiency, and neurological disorders. Whereas Seqirus has a broad range of flu products meeting the needs of different populations around the world.
While COVID-19 has impacted its plasma collections and could weigh on its margins in the near term, the long term looks extremely positive. Especially given its burgeoning R&D pipeline and the increasing demand for plasma-based products.
This morning, analysts at Credit Suisse upgraded CSL's shares to an outperform rating with a $315.00 price target.
Ramsay Health Care Limited (ASX: RHC)
Another ASX 200 blue chip share to look at is Ramsay Health Care. It is a leading private healthcare company with operations across the world.
While the pandemic hit Ramsay hard and led to a significant drop in elective surgeries, trading conditions have improved greatly in recent months. As a result, Ramsay looks well-placed to benefit from a backlog in surgeries in the near term and increased demand for healthcare services over the long term.
Macquarie is positive on the company. Earlier this week its analysts retained their outperform rating and $75.00 price target on Ramsay's shares.
The broker has been pleased with recent activity trends and feels the company is well-positioned for growth over the long term.
