Are you looking for some blue chip ASX 200 shares to strengthen your portfolio in March?
If you are, then it could be worth checking out the two highly rated options named below.
Here's why analysts are bullish on them:
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ResMed Inc. (ASX: RMD)
The team at Morgans believes that ResMed could be an ASX 200 blue chip share to buy.
It is a sleep treatment-focused medical device company with a portfolio of leading hardware and digital solutions.
ResMed's shares have come under pressure over the last 12 months amid concerns over the emergence of weight loss drugs. Morgans isn't worried and sees its share price weakness as a buying opportunity. It commented:
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.
Morgans has an add rating and $32.82 price target on the company's shares.
Treasury Wine Estates Ltd (ASX: TWE)
Morgans' analysts also believe that Treasury Wine could be an ASX 200 blue chip share to buy.
It is one of the world's leading wine companies and the owner of popular brands including Penfolds, Beringer, 19 Crimes, Lindemans, and Wolf Blass.
The broker was pleased with its recent acquisition of DAOU Vineyards (DAOU) for US$900 million (A$1.4 billion). And while there are risks to making such a large acquisition, the broker sees major upside if it's a success. It said:
If TWE delivers on its investment case, there is material upside to our valuation. The key near term share price catalyst is if China removes the tariffs on Australian wine imports.
Morgans has an add rating and $14.03 price target on its shares.
