In this article, we will list the 5 Cheap Blue Chip Stocks to Buy According to Wall Street Analysts. Please visit 12 Cheap Blue Chip Stocks to Buy According to Wall Street Analysts if you would like to see the extended list and the methodology behind it.
5. Toyota Motor Corporation (NYSE:TM)
Analyst Upside: 33.50%
Toyota Motor Corporation (NYSE:TM) is one of the top cheap blue chip stocks to buy according to Wall Street analysts. Reuters reported on July 6 that Toyota Motor Corporation (NYSE:TM) announced on Monday plans to build a new $3.6 billion auto plant in Texas and shift some of its truck production from Mexico to the United States. The company further stated that the new 2.5-million-square-foot building, set to open by 2030, will be located on its San Antonio manufacturing campus and will create 2,000 jobs. Toyota Motor Corporation (NYSE:TM) added that once the factory is completed, it will move the production of its mid-size Tacoma pickup truck from its Baja California plant in Mexico to Texas. The company will continue to build its Tacoma trucks at the Guanajuato plant in Mexico.
Reuters added that Toyota Motor Corporation (NYSE:TM) already produces its Tundra trucks and SUVs at its existing San Antonio assembly plant on the very site where the new facility is set to be built, with a new 500,000-square-foot rear axle plant set to open in the autumn.
Toyota Motor Corporation (NYSE:TM) manufactures and sells motor vehicles and parts. The company’s operations are divided into the following segments: Automotive, Financial Services, and All Other.
4. Comcast Corporation (NASDAQ:CMCSA)
Analyst Upside: 36.52%
Comcast Corporation (NASDAQ:CMCSA) is one of the top cheap blue chip stocks to buy according to Wall Street analysts. Wells Fargo cut the price target on Comcast Corporation (NASDAQ:CMCSA) to $28 from $29 on July 7 and maintained an Underweight rating on the shares. The firm stated that the company appears to be undervalued pro forma for the separation. However, Wells also believes that investors are incorrectly focused on Media M&A vs. Cable, and that the timing for more deals is uncertain. The firm stated that fundamentals on the call will skew slightly negative between broadband and Parks.
Comcast Corporation (NASDAQ:CMCSA) also received a rating update from Rosenblatt on June 30. The firm upgraded the stock to Buy from Neutral, adjusting the price target to $31, up from $24. The same day, Deutsche Bank also upgraded Comcast Corporation (NASDAQ:CMCSA) to Buy, citing the “surprise news” of the company’s plans to spin NBC Universal off into a separate company for the upgrade. The firm told investors in a research note that the stock is “so diminished” after dropping 50% in five years that even a moderate change in media valuation can be material.
Comcast Corporation (NASDAQ:CMCSA) provides internet, video, and phone services. The company’s operations are divided into the following segments: Residential Connectivity and Platforms, Business Services Connectivity, Media, Studios, and Theme Parks.
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.
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.
1. Newmont Corporation (NYSE:NEM)
Analyst Upside: 47.84%
Newmont Corporation (NYSE:NEM) is one of the top cheap blue chip stocks to buy according to Wall Street analysts. Jefferies lowered the price target on Newmont Corporation (NYSE:NEM) to $146 from $158 on July 6 and maintained a Buy rating on the shares. The firm told investors in a research note that since fiscal Q1, gold has declined from about $4,700/oz to roughly $4,200/oz. This sets up fiscal Q2 as a period of likely margin contraction driven by lower gold prices and elevated diesel costs, shifting focus from transitory cost inflation to commodity price pressure amid expectations of higher rates.
In a separate development, Newmont Corporation (NYSE:NEM) provided an update on June 21 following a seismic event that occurred on Friday, June 19, near its Cadia operations in New South Wales. It reported that all underground personnel were returned to the surface at the time of the seismic event safely, with no reported injuries and no recorded damage to infrastructure. It added that the underground and aboveground inspections were completed, with operations resuming over the weekend following a staged restart. Newmont Corporation (NYSE:NEM) also stated that the safety and well-being of its workforce remains its top priority.
Newmont Corporation (NYSE:NEM) explores and acquires gold properties containing copper, silver, lead, zinc, or other metals. Its operations are divided into the following geographical segments: Canada, Mexico, Suriname, Argentina, Peru, Australia, Papua New Guinea, Ghana, and the US.
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