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

3. T-Mobile US, Inc. (NASDAQ:TMUS)

Analyst Upside: 43.24%

T-Mobile US, Inc. (NASDAQ:TMUS) is one of the top cheap blue chip stocks to buy according to Wall Street analysts. Barclays cut the price target on T-Mobile US, Inc. (NASDAQ:TMUS) to $230 from $245 on July 8 and maintained an Overweight rating on the shares. The same day, Wells Fargo initiated coverage of the stock with an Equal Weight rating, setting a $170 price target and telling investors that T-Mobile US, Inc. (NASDAQ:TMUS) could be at risk from competitive shifts. It added that although spectrum is the company’s “great differentiator,” that “swagger” could also mean it is less likely to pursue an accretive satellite MVNO with Starlink.

In another development, Reuters reported on June 4 that, according to a statement from an Indian state ​government, T-Mobile US, Inc. (NASDAQ:TMUS) has plans to employ nearly 1,000 people by 2027 following the recent opening of its global capability center (GCC) in ​India. Reuters also provided additional details, stating that the tech center was inaugurated in Hyderabad, where the company leased 250,000 square ​feet of space, according to the state’s IT ministry. Its employees at the GCC will build advanced capabilities across software engineering, product development, DevOps, cybersecurity, and data analytics, ​among others.

T-Mobile US, Inc. (NASDAQ:TMUS) provides wireless communications services under the T-Mobile and MetroPCS brands. The company offers prepaid and postpaid wireless messaging, voice, and data services, along with wholesale wireless services.