In this article, we will look at the 12 Cheap Blue Chip Stocks to Buy According to Wall Street Analysts.
On July 6, Tom Lee, Fundstrat managing partner, appeared on CNBC’s ‘Squawk Box’ to talk about the latest market trends, his expectations for the S&P 500 this year, and more.
He stated that in July, we are going to get fiscal Q2 earnings, and in the first quarter, earnings came in way better than expected, and so the market’s P/E is actually lower now than it was in January by one point, one full turn. He thinks that fiscal Q2 earnings are going to surprise to the upside again, and so the market is going to get cheaper again. That means that there will be room for P/E to expand. Lee thus believes that July is going to be a stronger month for stocks.
READ ALSO: Stocks On The Rise: 10 Best Stocks to Invest In AND 10 Best Oil and Gas Stocks to Buy for the Next Decade.
He also believes that 8,000 is doable this year for the S&P, as that would be roughly 20 times the 2027 earnings of 400. Lee thinks of this as a low estimate; the P/E multiple could be 22 or better. Between now and the year-end, he believes there should be something that feels like a bear market, too. He does not see this materializing in July, but it is possible between August and October.
With these broader market trends in view, let’s look at the best cheap blue chip stocks to buy according to Wall Street analysts.
Our Methodology
We used stock screeners and online media sources to identify the best blue chip stocks with a forward P/E below 15 that analysts are bullish on. We then selected the top 12 stocks most popular among hedge funds as of Q1 2026, using the hedge fund sentiment data from Insider Monkey’s database. The stocks are arranged in ascending order of analyst upside potential.
Note: All data was recorded on July 8.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Insider Monkey’s quarterly newsletter strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).
12 Cheap Blue Chip Stocks to Buy According to Wall Street Analysts
12. Accenture plc (NYSE:ACN)
Analyst Upside: 24.77%
Accenture plc (NYSE:ACN) is one of the top cheap blue chip stocks to buy according to Wall Street analysts. Accenture plc (NYSE:ACN) announced on July 7 the signing of a multi-million euro contract with the NATO Communications and Information Agency (NCIA) for the Protected Business Network (PBN) program. The company will collaborate with Leonardo to deliver the contract over the next seven years, marking a considerable step in delivering NATO’s secure, cloud-enabled digital enterprise.
Management further stated that Accenture plc (NYSE:ACN) and Leonardo will “design, implement, and operate the core PBN platform across a multi-cloud environment provided by NCIA”, which would support the progressive deployment and long-term adoption of secure cloud services to around 29,000 users across the Alliance. It added that the contract’s estimated value is around 200 million euros over the next seven years.
In another development, TD Cowen lifted the price target on Accenture plc (NYSE:ACN) to $151 from $150 on June 26 and reaffirmed a Hold rating on the shares, with the firm updating its model to take into account the increased share repo projection for fiscal Q4 based on its $2B raised plan.
Accenture plc (NYSE:ACN) is a global professional services company that combines technology and leadership in data, cloud, and AI with functional expertise, industry experience, and global delivery capability. The company’s services include Strategy & Consulting, Technology, Operations, Industry X, and Song, and its operations are divided into the following geographical segments: North America, EMEA, and Growth Markets.
11. Chevron Corporation (NYSE:CVX)
Analyst Upside: 25.28%
Chevron Corporation (NYSE:CVX) is one of the top cheap blue chip stocks to buy according to Wall Street analysts. Reuters reported on July 8 that Chevron Corporation (NYSE:CVX) announced on Wednesday that it will allow rival oil producers to purchase a chemical technology it developed to boost production from shale wells. The decision came as part of a broader push to raise U.S. oil output, with the company adding that it will license its chemical surfactants technology to chemicals manufacturer ZL Chemicals, which will oversee the sales process to other oil companies.
Chevron Corporation (NYSE:CVX) further stated that the chemicals being licensed to ZL have improved production from newly drilled wells by up to 20% during the first year, while also reducing production decline in existing wells by between 5% and 8%.
Ryder Booth, Chevron Corporation’s (NYSE:CVX) Chief Technology and Engineering Officer, stated in an interview that with “constraints on energy in the world today, there’s a call on oil and gas companies to get more energy to market”, adding that this is a way “that we can answer the call to help boost production”.
Chevron Corporation (NYSE:CVX) provides oil and gas energy solutions, including crude oil and natural gas, the manufacture of transportation fuels, petrochemicals, lubricants, and additives, and the development of technologies that boost business and the industry. Its operations are divided into the Upstream and Downstream segments.
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