If you are looking to bolster your portfolio with some ASX 200 blue chip shares, you may want to look at the two listed below that experts rate highly.
Here's why analysts think they are in the buy zone this month:
Image source: Getty Images
Cochlear Limited (ASX: COH)
The first ASX 200 blue chip share that has been named as a buy is this leading hearing solutions company.
Goldman believes that Cochlear is well-placed to deliver the top end of its guidance this year. It commented:
In our view, the backdrop for this year appears relatively more favourable, and we see clear scope for COH to deliver at the upper-end of another solid guidance (+8-13% to $290-305m, with further accretion possible from the Oticon Medical transaction, which is yet to close).
Goldman Sachs currently has a buy rating and $247.00 price target on its shares.
Qantas Airways Limited (ASX: QAN)
Another ASX 200 blue chip share that has been named as a buy is airline operator Qantas.
Morgans is bullish on the company and believes it is well-placed in the current environment. It said:
QAN is now our preferred pick out of our travel stocks under coverage given it has the most near-term earnings momentum. Looking across travel companies globally, airlines are now in the sweet spot given demand is massively exceeding supply.
The broker also sees plenty of value in the Qantas share price at the current level. Morgans adds:
QAN is trading at a material discount compared to pre-COVID multiples, despite having structurally higher earnings, a much stronger balance sheet, a better domestic market position, a higher returning International business and more diversification (stronger Loyalty/Freight earnings).
All in all, this makes Qantas the broker's top pick in the travel sector right now. As a result, it has put an add rating and $8.50 price target on the company's shares.
