If you're want a strong portfolio, then having a few blue chips in there could give you a great foundation to build from.
But which blue chip ASX 200 shares could be in the buy zone? Here are three from different sides of the market to consider:
Goodman Group (ASX: GMG)
The first blue chip ASX 200 share that could be a buy is Goodman Group. It is a leading integrated commercial and industrial property company. Thanks to its successful strategy of developing high quality industrial properties in strategic locations, Goodman has been a standout performer over the last decade. The good news is that it has been tipped to continue its growth in the future.
Citi is a fan and has a buy rating and $21.10 price target on its shares. Its analysts continue to "favour industrial exposure, and remain attracted to GMG's best-in-class balance sheet."
Cochlear Limited (ASX: COH)
Another ASX 200 share that could be a buy is Cochlear. It is one of the world's leading hearing solutions companies. Thanks to its portfolio of world class products, which have been developed through its significant annual investment in research and development, Cochlear appears well-placed for long term growth. Particularly given its strong position in a market benefiting from ageing populations.
Morgans is bullish on Cochlear and has an add rating and $236.70 price target on its shares. It believes the Nucleus 8 launch will be a key driver of near term growth.
Rio Tinto Limited (ASX: RIO)
A final ASX 200 blue chip share that has been rated as a buy is Rio Tinto. It is of course one of the world's largest miners and the owner of a collection of world class operations across different commodities and geographies.
Goldman Sachs is positive on the miner due to its "compelling valuation" and production growth expectations. Goldman currently has a buy rating and $132.00 price target on Rio Tinto's shares.
