With so many blue chip ASX shares to choose from, it can be hard to decide which ones to buy.
To narrow things down, I have picked out two top blue chip ASX shares that experts rate as buys right now. They are as follows:
Cochlear Limited (ASX: COH)
The first blue chip ASX share to look at is Cochlear. It is one of the world's leading developers, manufacturers, and distributors of cochlear implantable devices for the hearing impaired.
Cochlear has earned this strong market position thanks to its portfolio of world-class products which has been developed following its high level of investment in research and development (R&D) over the last four decades.
The good news is that management isn't resting on its laurels. Each year the company spends around 12% of its annual revenue on R&D activities. This ensures that it remains ahead of the pack and creates a significant barrier to entry.
So with populations around the world ageing and demand for cochlear implantable devices expected to increase strongly over the next couple of decades, Cochlear appears well-placed for growth over the long term.
Morgans certainly believes this will be the case. As a result, it has an add rating and $244.50 price target on Cochlear's shares.
Goodman Group (ASX: GMG)
Another blue chip ASX share to look at is Goodman Group. It is a leading integrated commercial and industrial property company.
Goodman is another company that appears well-placed for growth over the long term. This is thanks to to its world class portfolio, which has been developed to give it exposure to key growth markets such as ecommerce and logistics.
The team at Citi are very positive on Goodman and are forecasting strong earnings growth in the coming years. For example, the broker expects earnings per share growth of ~23% in FY 2022 and then ~20% in FY 2023.
Citi also sees value in Goodman's shares at the current level with its buy rating and $22.00 price target.
