5 Best Affordable Blue Chip Stocks to Buy Now

4. Verizon Communications Inc. (NYSE:VZ)

Share Price as of April 17: $46.55

Forward P/E Ratio: 9.51

Verizon Communications Inc. (NYSE:VZ) engages in the provision of communications, technology, information, and streaming products and services to consumers, businesses, and governmental entities worldwide.

On April 16, Morgan Stanley assumed coverage of Verizon Communications Inc. (NYSE:VZ) with an ‘Equal Weight’ rating and a price target of $49, representing an upside of more than 5% from the current levels.

According to the analyst firm, Verizon Communications Inc. (NYSE:VZ) is currently going through a strategic turnaround under its new CEO, Dan Schulman. Morgan Stanley expects the company to remain a show-me story in the near to medium term, as investors look for clear evidence that the new management can successfully transition Verizon from the wireless market share to gaining it.

Verizon Communications Inc. (NYSE:VZ) is targeting approximately 750,000 to 1 million postpaid phone net adds in 2026, which is 2 to 3 times its total last year. The company expects its adjusted EBITDA to be in the range of $4.90 to $4.95 for FY 2026, up 4% to 5% from last year. Moreover, free cash flow is projected to reach $21.5 billion or more during the year, indicating a YoY growth of about 7% or more.