5 Best Affordable Blue Chip Stocks to Buy Now

In this article, we will take a look at the 5 Best Affordable Blue Chip Stocks to Buy Now. For deeper discussion and analysis, have a look at the 10 Best Affordable Blue Chip Stocks to Buy Now.

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5. AT&T Inc. (NYSE:T)

Share Price as of April 17: $26.51

Forward P/E Ratio: 11.45

AT&T Inc. (NYSE:T) provides telecommunications and technology services worldwide.

On April 16, Morgan Stanley assumed coverage of AT&T Inc. (NYSE:T) with an ‘Overweight’ rating and a price target of $30, indicating an upside potential of over 13% from the current price levels.

The analyst firm highlighted that AT&T Inc. (NYSE:T) is “well into its turnaround story” after offloading its noncore assets and sharpening its focus to its core connectivity services business. Moreover, the company’s status as “by far” the largest fiber provider and builder in the US positions it well to benefit from industry convergence.

AT&T Inc. (NYSE:T) is targeting to reach over 40 million customer locations with its fiber services by the end of 2026, up from 32 million at the end of last year. The company plans to expand its fiber reach by approximately 5 million locations annually through the end of the decade.

On the other hand, BNP Paribas turned bearish on AT&T Inc. (NYSE:T), downgrading the stock from ‘Outperform’ to ‘Neutral’ on April 8 (read more details here).