If you're on the lookout for some blue chip ASX 200 shares to buy, then it could be worth looking at three that analysts at Citi are recommending as buys.
Here's why these could be the ASX 200 shares to buy now:
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Aristocrat Leisure Limited (ASX: ALL)
Citi's analysts are bullish on this gaming technology company and have a buy rating and $42.80 price target on its shares. The broker believes that industry data is pointing to the company outperforming its peers. It recently commented:
Data up to December 2022 show continued strength in US casino revenues and those of Aristocrat's land-based peers. Aristocrat has also extended its performance gap to peers, coinciding with further market share gains in the premium-leased segment. Dragon Link is leading the industry in units added and more recent releases are also growing their installed bases significantly.
Goodman Group (ASX: GMG)
Citi is also a fan of this integrated industrial property company. The broker has a buy rating and $24.00 price target on its shares. It was pleased with last month's half-year results and believes that tailwinds for industrial property will continue and underpin strong earnings growth in the coming years. It said:
GMG's 1H23 result highlighted the extent of tailwinds still existing for industrial property which make for a strong earnings growth outlook not just this year but into multiple years in the future. […] We believe GMG will continue to outperform given its high-quality exposure and strong earnings growth potential in an uncertain macro environment.
Suncorp Group Ltd (ASX: SUN)
Finally, the broker is bullish on this insurance and banking giant and has a buy rating and $14.30 price target on its shares. While it is facing a few headwinds, Citi still believes that Suncorp has a solid outlook. It explained:
Despite a tough, likely insurance loss making period for motor insurance, SUN's margin trajectory still looks solid with potential for further expansion. The top line is also growing at a healthy rate even if it may not accelerate in 2H as much as the market may have previously thought. Reinsurance market pressure remains a likely headwind but SUN remains confident it can price for any increases. So overall we stay positive, albeit we note the dilutive nature of the impending bank sale which likely pushes up out year multiples.
