13 Most Undervalued Blue Chip Stocks To Buy According To Analysts

11. Wells Fargo & Company (NYSE:WFC)

Forward P/E, as of September 22: 11.0

Analyst Upside Potential, as of September 22: 12%

Number of Hedge Fund Holders: 83

Wells Fargo & Company (NYSE:WFC) is one of the most undervalued blue chip stocks to buy according to analysts. The financial services company was founded in 1852 and is based in California, United States. Wells Fargo provides a range of services including asset management, banking, commodities, insurance, investment management, and mortgage loans.

The company has almost $1.9 trillion in assets, making it one of the biggest financial services companies in the United States and globally. The company provides services to one in three households and covers almost 10% of small businesses in the United States.

In the second quarter of 2024, Wells Fargo & Company (NYSE:WFC) logged $20.69 billion in revenue, up by 1% year-over-year. Overall, the company’s auto segment greatly improved while the real estate department remained lumpy.

With a strong clientele of 68 million customers in 22 countries, Wells Fargo & Company (NYSE:WFC) has a strong network difficult for any other company to replicate. In addition to that, the company has over 5,600 branches and more than 11,000 ATMs.

Analysts are also bullish on WFC and their 12-month median price target of $63 points to a 12% upside from current levels. At the end of Q2 2024, there were 83 hedge funds that held positions in the stock with total stakes amounting to $5.68 billion. As of June 30, Harris Associates was the largest shareholder with a position worth $1.27 billion.