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.
10. HCA Healthcare, Inc. (NYSE:HCA)
Analyst Upside: 26.39%
HCA Healthcare, Inc. (NYSE:HCA) is one of the top cheap blue chip stocks to buy according to Wall Street analysts. Barclays downgraded HCA Healthcare, Inc. (NYSE:HCA) to Equal Weight from Overweight on July 8, bringing the price target on the stock down to $427 from $496. The firm told investors that following a strong three-year bull run driven by ACA membership growth, widening revenue-cost spreads, and Medicaid state-directed payments, the fundamental and regulatory backdrop for acute hospitals is turning more negative, and the firm “can no longer recommend the group on an unqualified basis”.
In another development, TD Cowen cut the price target on HCA Healthcare, Inc. (NYSE:HCA) to $431 from $500 on June 22 and maintained a Buy rating on the shares. The firm told investors in a research note that it reduced the company’s 2026 and 2027 growth assumptions after its May hospital survey showed flat year-over-year revenue. It further stated that the survey commentary shows weaker surgical volumes that were partially offset by growth in medical volumes.
HCA Healthcare, Inc. (NYSE:HCA) is a health services company involved in operating hospitals, urgent care facilities, freestanding surgery centers, emergency care facilities, walk-in clinics, diagnostic and imaging centers, comprehensive rehabilitation and physical therapy centers, radiation and oncology therapy centers, and several more. The company operates general and acute care hospitals that offer medical and surgical services.
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.
8. Capital One Financial Corporation (NYSE:COF)
Analyst Upside: 29.03%
Capital One Financial Corporation (NYSE:COF) is one of the top cheap blue chip stocks to buy according to Wall Street analysts. UBS lifted the price target on Capital One Financial Corporation (NYSE:COF) to $275 from $270 on July 7 and maintained a Buy rating on the shares. The stock also received a rating update from BTIG on June 30, with the firm lifting the price target on the stock to $259 from $224 while maintaining a Buy rating on the shares.
The firm told investors in a research note that it updated estimates and targets in the specialty finance group ahead of the fiscal Q2 earnings season, and added that the new price targets show where BTIG thinks the shares will be valued in June 2027. The firm believes that for many of the names, earnings power “should improve significantly,” especially as consumer inflation uncertainty and the path of the Federal Reserve funds rates ease. Capital One Financial Corporation (NYSE:COF) was also initiated with an Overweight rating by Piper Sandler on June 29, with the firm setting a price target of $254 for the stock.
Capital One Financial Corporation (NYSE:COF) is a financial holding company that provides financial products and services, with its operations divided into the following segments: Credit Card, Consumer Banking, and Commercial Banking.
7. Freeport-McMoRan Inc (NYSE:FCX)
Analyst Upside: 29.17%
Freeport-McMoRan Inc (NYSE:FCX) is one of the top cheap blue chip stocks to buy according to Wall Street analysts. Morgan Stanley lifted the price target on Freeport-McMoRan Inc (NYSE:FCX) to $70 from $66 on July 8 and reaffirmed an Equal Weight rating on the shares. The firm told investors in a research note that copper and precious metals are favored due to expectations for higher prices, while aluminum is expected to face pressure as supply moves into surplus alongside iron ore.
For reference, in its operating results for fiscal Q1 2026, Freeport-McMoRan Inc (NYSE:FCX) reported that consolidated copper and gold sales surpassed January 2026 estimates, and consolidated average unit net cash costs were favorable to January 2026 estimates. Consolidated production totaled 662 million pounds of copper, 97 thousand ounces of gold, and 22 million pounds of molybdenum in the quarter. Management further stated that consolidated sales totaled 657 million pounds of copper, 121 thousand ounces of gold, and 24 million pounds of molybdenum.
Freeport-McMoRan Inc (NYSE:FCX) mines gold, copper, and molybdenum. The company’s operations are divided into the following segments: U.S. Copper Mines, South America Operations, Indonesia Operations, Molybdenum Mines, U.S. Rod and Refining, Atlantic Copper, and Corporate and Other.
6. ConocoPhillips (NYSE:COP)
Analyst Upside: 31.77%
ConocoPhillips (NYSE:COP) is one of the top cheap blue chip stocks to buy according to Wall Street analysts. Truist cut the price target on ConocoPhillips (NYSE:COP) to $115 from $128 on July 8 and maintained a Hold rating on the shares. The rating update came as part of a preview of its fiscal Q2 results, with the firm telling investors in a research note that the company is likely to benefit from higher oil prices in the quarter, given it’s unhedged. However, it added that this is slightly offset by significantly weak Waha prices and higher operating expenses relative to fiscal Q1.
ConocoPhillips (NYSE:COP) also received a rating update from Morgan Stanley on June 29. The firm cut the price target on the stock to $146 from $153 and maintained an Overweight rating on the shares, stating that since the announcement of a memorandum of understanding between the United States and Iran on June 14, oil prices have dropped, with WTI now sitting only slightly above pre-conflict levels. The firm thus refreshed its estimates for the latest energy prices.
ConocoPhillips (NYSE:COP) is an exploration and production company that explores, transports, produces, and markets crude oil, natural gas, and bitumen. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, the Middle East, and North Africa, Asia Pacific, and Other International.
While we acknowledge the potential of COP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than COP and that has 100x upside potential, check out our report about the cheapest AI stock.
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