12 Cheap Blue Chip Stocks to Buy According to Wall Street Analysts 

9. TotalEnergies SE (NYSE:TTE)

Analyst Upside: 27.93%

TotalEnergies SE (NYSE:TTE) is one of the top cheap blue chip stocks to buy according to Wall Street analysts. OLA Energy Group and TotalEnergies SE (NYSE:TTE) announced the signing of a Share Purchase Agreement for the former to acquire TotalEnergies Marketing Ethiopia, adding more than 120 stations across key cities, including Addis Ababa, Dire Dawa, and Mek’ele, to OLA Energy’s pan-African network.

Management stated that the transaction encompasses the full downstream operations of TotalEnergies Marketing Ethiopia, which is a network of over 120 service stations strategically located across major cities, serving B2B, retail, aviation, and lubricant customers. It added that the network also includes 10 storage assets, digital payment solutions, and logistics infrastructure already in operation.

In another development, TD Cowen cut the price target on TotalEnergies SE (NYSE:TTE) to $102 from $106 on July 2 and maintained a Buy rating on the shares. The rating update came as part of the firm adjusting price targets in the oil majors space in a fiscal Q2 earnings preview. TD Cowen stated that it sees “pockets of opportunity” in the sector following the “rapid correction” in crude prices and equities, adding that it favors TotalEnergies SE (NYSE:TTE), Shell, and Chevron into earnings season.

TotalEnergies SE (NYSE:TTE) operates as a global integrated energy company that produces natural gas and green gases, oil and biofuels, as well as renewables and electricity. It is headquartered in Courbevoie, France, and operates through the following business segments: Exploration & Production, Integrated LNG, Integrated Power, Refining & Chemicals, and Marketing & Services.