If you are looking to bolster your portfolio with some ASX 200 blue chip shares, you may want to look at the two listed below that have been tipped as buys by Goldman Sachs.
Here's what it is saying about these ASX 200 shares:
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Goodman Group (ASX: GMG)
Goodman could be a blue chip ASX 200 share to buy right now according to analysts at Goldman Sachs.
The broker is a big fan of the global integrated commercial and industrial property company and was impressed with its performance in FY 2022.
Those results saw Goodman report a 25.3% increase in operating profit to $1,528 million. It also revealed that its development work in progress was up 28% to $13.6 billion.
Goldman Sachs is confident that this strong form can continue thanks to the strong outlook for industrial property. It commented:
GMG continues to demonstrate its strong platform and positioning as evident in today's result, supported by our expectation of a strong outlook for the Industrial sector more broadly, with a number of favourable fundamentals underpinning future long-term demand for industrial space. We expect solid rental growth as demand for high quality logistics space continues to outpace available supply.
Goldman has a buy rating and $25.40 price target on its shares.
REA Group Limited (ASX: REA)
Another ASX 200 share that could be a buy right now according to Goldman Sachs is property listings company REA Group.
It is of course the owner over the realestate.com.au website, which over the last decade has built a dominant position in the ANZ market.
This dominance means that in FY 2022 the company averaged 12.7 million unique visits each month to its flagship website. This represents 62% of Australia's adult population and led to total average monthly visits of 124.1 million, which is almost 3.4x greater than its nearest rival.
Goldman notes that despite this impressive performance, its shares have not pushed higher. In light of this, it thinks investors should be snapping them up. It said:
Shares are trading back in-line with pre-result levels, despite having a solid FY22 result with core Australia EBITDA +2% vs. GSe, and outlook commentary that was very positive, particularly around expectations for delivering sustained double digit yield growth through the cycle, including in FY23E.
Goldman Sachs has a buy rating and $164.00 price target on the company's shares.
