If you're wanting to boost your portfolio with some blue chips, then you might want to look at the ASX shares listed below.
Here's why these ASX blue chip shares are highly rated:
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SEEK Limited (ASX: SEK)
SEEK is the leading job listings company in the ANZ region. It also has a number of growing businesses around the globe.
In respect to the former, during the first half of FY 2021, the company was the dominant force in the local market. It was averaging 35 million monthly visits and 160,000 active hirers. This represents almost a third of all placements in the region and is five times greater than its nearest rival.
It is thanks to this dominance that SEEK has been tipped to benefit greatly from Australia's strong economic recovery from the pandemic. With the unemployment rate tipped to fall materially over the next 12 months, job ad volumes look set to increase and underpin strong top line growth.
Macquarie is positive on SEEK. It currently has an outperform rating and $40.00 price target on its shares.
Sonic Healthcare Limited (ASX: SHL)
Sonic Healthcare is one of the world's leading providers of medical diagnostics. Over the last few decades it has earned a reputation for excellence in pathology, diagnostic imaging, and primary care medical services across operations in the ANZ, European and North American markets.
Due largely to strong demand for COVID-19 testing services, it is expected to deliver a very strong full year result this month. And with COVID testing unlikely to be going away any time soon, the company appears well-placed to benefit from elevated testing volumes in FY 2022 and potentially even FY 2023.
Combined with the strength of the rest of the business and a balance sheet that would support earnings accretive acquisitions, the future looks bright for Sonic.
Credit Suisse is very positive on Sonic and has an outperform rating and $43.50 price target on its shares.
