There are a lot of options for investors to choose from on the ASX 200 index.
But two blue chip ASX 200 stocks that could be standout buys right now according to analysts are listed below.
Here's why they are bullish on them:
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Coles Group Ltd (ASX: COL)
The first blue chip ASX 200 stock to buy now could be Coles. It is of course the supermarket giant behind the eponymous Coles brand.
The team at Citi is feeling very positive on the company's outlook. Particularly given the rollout of anti-theft technology, which it expects to boost its margins. The broker commented:
Accelerated technology rollout should meaningfully lower theft rate in 2H24 We expect the drag from theft on gross margin will begin to materially reverse in 2H24. Coles is rolling out technology to combat theft in ~30% of the store portfolio. Our analysis of retail theft data suggests that this should address ~70% of its theft exposure given that it will be rolled out to the most impacted stores initially. We forecast a 40 bps recovery in the supermarkets GP margin in 2H24e given these measures. We retain our Buy rating.
Citi has a buy rating and a $17.50 price target on its shares.
ResMed Inc (ASX: RMD)
Another blue chip ASX 200 stock that has been rated as a buy is sleep treatment company ResMed.
Morgans is a fan of the company and believes the emergence of weight loss drugs isn't something to be concerned about. The broker explains:
While weight loss drugs have grabbed headlines and investor attention, we see these products having little impact on the large, underserved sleep disorder breathing market, and do not view them as category killers. Although quarters are likely to remain volatile, nothing changes our view that the company remains well placed and uniquely positioned as it builds a patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain
Morgans has an add and a $32.74 price target on ResMed's shares.
