Are you looking to bolster your portfolio with some blue chip ASX shares in June?
If you are, then you might want to look at the ones listed below. Here's why these ASX blue chip shares are highly rated:
Image source: Getty Images
Cochlear Limited (ASX: COH)
The first blue chip to look at is Cochlear. With populations around the world continuing to age, this leading manufacturer and distributor of cochlear implantable devices appears well-placed for growth over the next decade. Especially given its world class product portfolio and the industry's high barriers to entry.
Macquarie is positive on the company and has an outperform rating and $245.00 price target on its shares.
Coles Group Ltd (ASX: COL)
Another blue chip share to consider is this supermarket giant. It could be a top option for investors due to its defensive qualities, strong market position, and solid growth prospects. Another positive is the return of rational competition in the supermarket industry. This puts Coles in a good position to continue its growth once it has cycled the elevated sales at the height of the pandemic.
Morgan Stanley is a fan of the company and currently has an overweight rating and $20.25 price target on its shares.
CSL Limited (ASX: CSL)
This biotherapeutics giant could be a blue chip to look closely at. While trading conditions have been tricky during the pandemic, CSL remains well-placed for long term growth thanks to the quality of its CSL Behring and Seqirus businesses. Both businesses have lucrative product portfolios and promising research and development pipelines.
One broker that is bullish on CSL is Macquarie. Its analysts recently retained their buy rating and $312.00 price target on its shares.
Telstra Corporation Ltd (ASX: TLS)
A final blue chip to consider is this telco giant. It could be a good option due to its improving outlook, attractive valuation, and generous yield. The former is being driven by the company's successful T22 strategy and the easing NBN headwind.
Goldman Sachs is positive on the company and recently retained its buy rating and $4.00 price target on its shares.
