If you're looking for ASX 200 blue chip shares to add to your portfolio, then read on!
Listed below are two blue chip shares that have been rated as buys by analysts at Morgans. Here's what they are saying about them right now:
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QBE Insurance Group Ltd (ASX: QBE)
Morgans believes that investors ought to consider QBE shares. This is for a few reasons. One is its improving outlook thanks to rate increases. Another is its cost reductions, which the broker expects to boost its earnings profile.
In addition, the broker feels that QBE's shares are trading at an attractive level and is expecting a generous dividend yield in FY 2023. It commented:
With strong rate increases still flowing through QBE's insurance book, and further cost-out benefits to come, we expect QBE's earnings profile to improve strongly over the next few years. The stock also has a robust balance sheet and remains relatively inexpensive overall trading on ~9.1x FY23F PE.
Morgans has an add rating and $14.89 price target on QBE's shares. It is also expecting a dividend yield of almost 7% in FY 2023.
ResMed Inc (ASX: RMD)
Another blue chip ASX 200 share that gets the tick of approval from Morgans is ResMed. It is a medical device company with a focus on sleep disorder treatments.
ResMed also has a growing digital business which the broker sees as a key driver of growth over the long term. It commented:
While we expect the next few quarters to be volatile as COVID-related demand for ventilators continues to slow and core sleep apnoea volumes gradually lift, nothing changes our medium/longer term view that the company remains well-placed as it builds a unique, patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.
Morgans has an add rating and $37.00 price target on ResMed's shares.
