Investors that are looking to bolster their portfolio with some blue chip ASX 200 shares may want to look at the three listed below.
Here's why these blue chip ASX 200 shares are highly rated:
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BHP Group Ltd (ASX: BHP)
The first blue chip ASX 200 share to look at is BHP. The Big Australian's shares have come under significant pressure in recent months and now trade well below their 52-week high.
This has been driven largely by the falling iron ore price. However, with the steel making ingredient appearing to stabilise in or around the US$95 a tonne mark and other commodities performing strongly, this share price weakness could have been an overreaction.
The team at Morgans appear to believe this is the case. Last month the broker upgraded BHP's shares to an add rating with a $46.05 price target.
Healius Ltd (ASX: HLS)
Another blue chip ASX 200 share to look at is Healius. It is one of Australia's largest pathology and diagnostic imaging providers offering services via a number of brands. These include Dorevitch Pathology, QML Pathology, Laverty Pathology, and Healthcare Imaging Services.
Healius was a very positive performer in FY 2021. For the 12 months ended 30 June, the company reported a 22% increase in revenue to $1,913.1 million and the doubling of its underlying EBIT to $266.5 million.
A key driver of this growth was its pathology business, which is experiencing significant demand for COVID-19 testing services. Pleasingly, demand remains strong and has underpinned further explosive growth so far in FY 2022.
For example, during the first quarter of FY 2022, Healius was averaging 40,000 COVID tests per working day. This supported a 43.7% increase in group quarterly revenue over the prior corresponding period to $689.9 million.
Macquarie is a big fan of the company. It currently has an outperform rating and $5.65 price target on Healius' shares. In addition, it expects a dividend yield of almost 5% in FY 2022.
