Three bluechip ASX shares that can be explored in February

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Highlights

  • The ASX 200 fell into the official definition of ‘correction’ on Thursday. 
  • As a result, investors would now be looking at options that provide a better chance of holding up during challenging times. 
  • GMD, SEL and SEK are three stocks which investors can look at currently.

The Australian benchmark ASX 200 Index plunged into the official definition of ‘correction’ on Thursday. It fell nearly 10% from its recent high, erasing all gains covered since May 2021. In such a scenario, investors would be looking at options that provide a better chance of holding up during challenging times.

So, bluechip stocks can provide such an opportunity to investors. A bluechip stock belongs to a company with a reputation for performing on a strong note in good or bad times. The companies generally sell high-quality products and services.

Due to the earlier mentioned attributes, these firms are generally seen by investors as relatively safer investments, with a proven track record of success and stable growth. These stocks have historically outperformed the benchmark index in terms of returns.

On this note, let’s discuss three blue-chip stocks which can be looked at in February:

 Goodman Group (ASX:GMG)

Goodman Group is into business space property and international industrial, development and funds management business. The company has a portfolio of warehouses, large-scale logistics facilities, business and office parks. Goodman Industrial Trust, Goodman Ltd and Goodman Logistics (HK) Ltd are the company’s stapled entities.

The stock has delivered a negative year-to-date (YTD) return of nearly 18%. In the past year, the stock rose by over 24%. In the past five years, the stock rose by over 217%.

The company says that it continues to experience strong demand for its properties.

Furthermore, the company has US$12.7 billion of development work in progress, which is expected to boost further solid growth in the upcoming years.

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CSL Ltd (ASX:CSL)

CSL is a healthcare firm which is into the development, research, manufacturing and marketing of cell culture media, human plasma fractions, pharmaceutical and diagnostic products. The ASX-listed company owns the CSL Behring and Seqirus businesses.

The stock has delivered a negative year-to-date (YTD) return of nearly 16%. In the past five years, the stock rose by over 121%.

The company seems to grow decently once challenges due to the COVID-19 pandemic on plasma collections ease. Prospects of growth look strong amid robust demand for the company’s immunoglobulins and vaccines.

The company also recently announced the proposed acquisition of Vifor Pharma, which is expected to boost its offering in other lucrative markets. Post Vifor’s acquisition, the company had announced a net profit after tax (NPAT) guidance in an approximate range between US$2.15 billion and US$2.25 billion.

SEEK Ltd (ASX:SEK)

SEEK is one of the largest workforce solutions companies around the world. It provides online employment services, advertises jobs, banners, and candidates’ Curriculum Vitae services. 

The stock has delivered a negative year-to-date (YTD) return of over 20%. In the past five years, the stock rose by over 86%.

After facing pandemic-related challenges in FY2021, the company has recovered now as hiring activity increases.

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