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

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

Analyst Upside: 45.95%

AT&T Inc. (NYSE:T) is one of the top cheap blue chip stocks to buy according to Wall Street analysts. Barclays cut the price target on AT&T Inc. (NYSE:T) to $24 from $26 on July 8 and reaffirmed an Equal Weight rating on the shares. The stock also received a rating update from Wells Fargo the same day. Wells initiated coverage of AT&T Inc. (NYSE:T) with an Underweight rating, setting a price target of $18 and stating that it sees the company as “least likely” to strike a deal for a Starlink mobile MVNO. It added that this means fiber and convergence would need to outperform to deliver net add and services revenue upside.

In a separate development, AT&T Inc. (NYSE:T) announced on June 15 the expansion of 400G wavelength connectivity into additional U.S. metros, marking a notable step in the scaling of the company’s business-grade network built to support AI-era traffic. AT&T Inc. (NYSE:T) is increasingly extending fast and more reliable connectivity, with 400G wavelength edgeless handoff capability enabled across 440,000 properties serving more than 2.3 million business tenants.

AT&T Inc. (NYSE:T) provides telecommunications and technology services and operates through the Communications and Latin America segments. Its Communications segment offers wireline telecom, wireless, and broadband services in the US and globally, while the Latin America segment manages services in Mexico.