When you're attempting to construct a portfolio, having a few strong ASX 200 blue chip shares in there can be a good thing.
But which blue chips could be good additions this month? Let's take a look at three that could be worth considering for your portfolio according to analysts. They are as follows:
Goodman Group (ASX: GMG)
Analysts at Citi think that Goodman Group could be an ASX 200 blue chip share to buy.
Goodman is a specialist global industrial property and digital infrastructure company. It owns, develops, and manages high-quality sustainable properties that are close to consumers and provide essential infrastructure for the digital economy.
Citi is very positive on the company's outlook and is forecasting its strong earnings growth to continue over the medium term.
In light of this, it thinks its shares are in the buy zone right now and see plenty of upside over the next 12 months. The broker has a buy rating and $40.00 price target on them. Based on the current Goodman share price of $33.80, this implies potential upside of over 18% for investors.
Qantas Airways Limited (ASX: QAN)
Over at Goldman Sachs, its analysts think that this airline operator could be a blue chip ASX 200 share to buy.
It believes that Qantas' shares are undervalued at current levels, particularly given its structurally stronger earnings. Goldman notes that "relative to regional/ US peers (median PE of 9.1x), QAN is trading on a 29% discount at 6.4x FY25 PE."
It highlights that "this is more than 2x below the historical 5Y average discount of 14%" and expects the "gap to narrow as QAN delivers earnings that are sustainably above pre-COVID levels."
Goldman has a conviction buy rating and $8.05 price target on Qantas' shares. Based on its current share price of $5.97, this suggests that upside of 35% is possible over the next 12 months.
Woolworths Limited (ASX: WOW)
Another ASX 200 blue chip share that Goldman Sachs is positive on is Woolworths. It is of course Australia's largest supermarket operator, as well as the owner of Big W, a growing pet care business, and Everyday Rewards.
Goldman Sachs believes the company's outlook is very positive thanks to its industry leadership and potential for market share gains. The latter is expected to be driven by its vast loyalty program and omni-channel advantage.
The broker currently has a buy rating and $40.20 price target on its shares. Based on the current Woolworths share price of $33.81, this implies potential upside of almost 19%.
