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The benchmark ASX 200 index is home to 200 of the largest listed companies on the Australian share market.
Among these companies are some true blue chip stars that could form the foundations for a winning portfolio.
But which ASX 200 shares could be top buys for investors today today? Let’s now take a look at three blue chip options for investors to consider buying:
Coles Group Ltd (ASX: COL)
The team at Bell Potter thinks that Coles could be an ASX 200 share to buy.
It is of course one of Australia’s largest supermarket operators. In addition, the company has a large liquor store network and joint ownership of the Flybuys loyalty program.
The broker likes the company due partly to its recent investment in automation and its online business. It believes that this “should help Coles maintain its market position.”
Bell Potter currently has a buy rating and $19.00 price target on the company’s shares.
Another ASX 200 share that analysts rate as a buy is CSL.
It is one of the world’s leading biotherapeutics companies with a collection of industry-leading therapies. This includes therapies such as Privigen, Hizentra, Idelvion, and Afstyla.
But CSL is never one to settle. Each year it reinvests in the region of 12% of its sales back into research and development (R&D) activities. Combined with its existing products and the rollout of its new plasma collection technology, the future looks bright for this ASX 200 blue chip star.
In light of this, it may not come as no surprise to learn that a large number of brokers are recommending CSL shares as a buy. One of those is Macquarie, which has an overweight rating and $330.00 price target on them.
A third ASX 200 share that could be a great addition to a portfolio is ResMed.
It is a medical device company with a focus on the sleep disorder market. This is a huge market, with an estimated one in five people suffering from a sleep disorder globally.
However, the majority of these people are not aware of their conditions. But with the awareness of sleep disorders and the health risks they pose increasing each year, ResMed looks well-placed to continue its solid growth long into the future.
Citi is bullish on ResMed and has a buy rating and $36.00 price target on its shares.