If you're wanting to strengthen your portfolio with some ASX 200 blue chip shares, you may want to look at the two listed below.
Both have recently been named as buys by leading brokers. Here's why they could be buys:
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Macquarie Group Ltd (ASX: MQG)
The first blue chip ASX 200 share that analysts rate as a buy is investment bank Macquarie.
Morgans is bullish on the investment bank due to its exposure to a number of long term structural growth areas and its ongoing market share gains in Australian mortgages.
The broker currently has an add rating and $215.00 price target on Macquarie's shares. This implies potential upside of 22% for investors over the next 12 months.
Morgans commented:
We continue to like MQG's exposure to long-term structural growth areas such as infrastructure and renewables. The company also stands to benefit from recent market volatility through its trading businesses, while it continues to gain market share in Australian mortgages.
ResMed Inc (ASX: RMD)
Another highly rated ASX 200 blue chip share for investors to look at is ResMed.
It is a global leader in the development, manufacturing, distribution, and marketing of medical devices and cloud-based software for the diagnosis, treatment, and management of respiratory disorders.
The team at Credit Suisse are very positive on the company. They believe ResMed is well-placed to grow its market share in the lucrative sleep treatment market due to a product recall from arch rival Philips. Particularly if US regulators require Philips' quality control systems to be approved before allowing it to return to market again.
Credit Suisse currently has an outperform rating and $40.00 price target on the company's shares. This suggests potential upside of 15% for investors over the next 12 months.
