Analysts are pricing these blue-chip ASX 200 stocks as buys

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If you are looking for blue chip ASX 200 stocks to buy, you might want to consider the two listed below that brokers are bullish on.

Here’s what you need to know about these blue chips:

Australia and New Zealand Banking Group Ltd (ASX: ANZ)

The first ASX 200 blue chip stock that analysts are positive about is major bank ANZ Bank.

It was recently labeled a buy by Citi analysts. The broker seems to believe that the acquisition of the banking activities of Suncorp Group Ltd. (ASX:SUN) could be a boost if all goes as planned.

If successfully integrated, we believe the deal appears to represent fair value, with the acquisition P/E of 13.8x offset by substantial cost synergies (~35% of SUN Bank’s cost base), funding cost advantages (due to ANZ’s AA rating) and lower capital. intensity (a move to AIRB accreditation) over time.

The broker currently has a buy rating and a price target of $29.00 on the bank’s shares. This compares very favorably to the latest ANZ share price of $22.59 and suggests 28% upside potential for investors.

Woolworths Group Ltd. (ASX: WOW)

Another top ASX 200 stock that could be in the buy zone is retail giant Woolworths.

The Goldman Sachs team is bullish on the company and believes it is well positioned in the current environment to deliver solid sales growth and even stronger earnings growth. The broker recently commented:

We plan [a sales] CAGR of 6.6% and underlying NPAT of 14.1% in FY22-24e, the main driver being market share gain in the AU Foods business with comp sales growth. improved mix with relatively stable volume growth.

Goldman has a buy rating and price target of $40.50 on its shares. Based on Woolworths’ current share price of $37.25, that implies upside potential of 9% before dividends and 12% including its scheduled dividend for fiscal 2023.

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