Although the biggest and most-established enterprises generally outperform smaller firms during troubled times, this concept doesn’t always ring true, meaning that speculators can target beaten-down blue-chip stocks to buy. To be sure, a few advantages exist in targeting this sector over a lesser-capitalized fare. First, let’s discuss the obvious: blue-chip stocks to buy undergird popular if not relevant businesses. Therefore, it’s much easier for these stalwarts to convince retail investors to take a shot at them as opposed to no-name organizations.

Second, the popularity of blue-chip stocks to buy commands far greater attention than random market ideas trading over the counter. Put another way, CNBC could do a piece on the troubled giant, thus potentially attracting an army of contrarians. Third, for blue chips, their current volatility may not be their first rodeo. Thus, they may have a framework from which to recover. Finally, before moving on, all of these securities trade within a range of 20% up from their five-year lows. With that, below are the blue-chip stocks to buy for contrarian investors.

Intel (INTC)

One of the semiconductor and technology firms in the world, Intel (NASDAQ:INTC) organically commands significant respect. However, a series of sector challenges – most notably intense competition – and unforced errors took the sheen off Intel’s reputation. Unfortunately, the unusual troubles attracted the bears, who proceeded to beat up INTC. In the trailing five years, it’s down over 48%.

Nevertheless, INTC could make up the ranks of severely deflated blue-chip stocks to buy. On paper, the company presents an undervalued profile. For example, the market prices INTC at a trailing multiple of 13.49. As a discount to earnings, Intel ranks better than 63% of the competition. Also, INTC trades at a trailing-year sales multiple of 1.73. In contrast, the sector median value is a lofty 2.44 times. As well, Intel features a price-to-book ratio of 1.08 times, below roughly 84% of the semiconductor industry. To be fair, Wall Street analysts peg INTC as a hold. Still, their average price target of $27.31 at least implies positive growth from the time of writing.

Medtronic (MDT)

An American medical device company, Medtronic (NYSE:MDT) develops and manufactures healthcare technologies and therapies. Because of the coronavirus pandemic, greater focus centers on medical innovations. Theoretically, this dynamic should help MDT stock. Unfortunately, the market blasted it, causing it to shed over 25%. In the trailing five years, MDT slipped 4%. Still, for the contrarian investor, MDT may rank among the blue-chip stocks to buy. Perhaps most enticingly, the market prices MDT at a forward multiple of 14.34. As a discount to earnings, Medtronic ranks better than 87.88% of the medical devices industry. As well, Medtronic trades at 2.02 times its book value. In contrast, the sector median value is 2.75 times.

Also, prospective contrarians should note that Medtronic carries a forward yield of 3.49%. As well, it commands 46 years of consecutive annual dividend increases. Turning to Wall Street, analysts peg MDT as a consensus moderate buy. Further, their average price target stands at $92.23, implying over 18% upside potential.

Walgreens Boots Alliance (WBA)

A holding firm that owns the retail pharmacy chain Walgreens in the U.S. and Boots in the U.K., Walgreens Boots Alliance (NASDAQ:WBA) brings natural relevancies to the table. Unfortunately, Walgreens suffered substantial political controversy. Newsweek reports that California Governor Gavin Newsom won’t deal with the enterprise over its stance on reproductive rights. Frankly, I have zero interest in wading into a firebrand topic with which I will never have any direct experience. That said, it’s possible that with the passage of time, cooler heads may prevail, leading to a negotiation. As circumstances stand now, Walgreens offers an undervalued opportunity among speculative blue-chip stocks to buy.

Specifically, the market prices WBA at a forward multiple of 7.43. As a discount to earnings, Walgreens ranks better than nearly 96% of the competition. Also, the company carries a forward yield of 5.77%. In addition, it features 47 years of consecutive annual dividend increases. Lastly, covering analysts peg WBA as a consensus hold. Still, their average price target hits $39.75, implying over 19% upside potential.

Unilever (UL)

A consumer goods giant, Unilever (NYSE:UL) manufactures various products, including food, condiments, bottled water, baby food, soft drink, ice cream, instant coffee, cleaning agents, and toothpaste, among many others. Because of its relevance, UL stock performed well during the trailing year, gaining 10% of equity value. However, in the past five years, it slipped over 7%.

Now, that doesn’t sound like much. However, UL currently trades near its five-year low, which presents risks. However, those that want to speculate on underappreciated blue-chip stocks to buy may consider Unilever. For instance, Gurufocus.com’s proprietary calculations for fair market value (FMV) identify UL as modestly undervalued. Operationally, Unilever enjoys a very strong net margin of 12.74%. Also, the company benefits from a zero-debt profile. If that wasn’t enough, UL carries a forward yield of 3.75%. This ranks much higher than the consumer staple sector’s average yield of 1.89%. Looking to the Street, Argus Research believes UL is a buy, forecasting a $60 price target. Should it get there, investors will enjoy over 23% upside.

Verizon (VZ)

A multinational telecommunications giant, Verizon (NYSE:VZ) offers voice, data, and video services and solutions on its award-winning networks and platforms. Notably, Verizon represented the first company in the world to launch commercial 5G for mobility, fixed wireless and mobile edge computing. Nevertheless, the market has not treated VZ well. Indeed, in the past five years, VZ gave up nearly 25% of its equity value.

In full transparency, Gurufocus.com warns its readers that VZ may be a possible value trap. For those that want to take an eventual trip with their blue-chip stocks to buy, the telecom stalwart features some exciting metrics. For example, the market prices VZ at a forward multiple of 7.76. As a discount to earnings, Verizon ranks better than 85.15% of the competition. Despite the downside dangers, it will be difficult for investors to ignore passive income. Right now, Verizon carries a forward yield of 7.14%. Also, it commands 18 years of consecutive dividend increases. Lastly, covering analysts peg VZ as a consensus moderate buy. Moreover, their average price target stands at $46.50, implying over 27% upside potential.

Global Payments (GPN)

A financial technology (fintech) company, Global Payments (NYSE:GPN) provides payment technology and services to merchants, issuers, and consumers. Although relevant during decisively bullish cycles, Global Payments struggled for traction as inflation negatively impacted consumer sentiment. For instance, in the trailing 365 days, GPN gave up over 17% of equity value. In the past five years, it’s down nearly 11%.

Nevertheless, it’s quite possible that Global Payments could be one of the deflated blue-chip stocks to buy. Yes, I must state that Gurufocus.com believes it could be a possible value trap. Objectively, though, the market prices GPN at a forward multiple of 10.21. As a discount to earnings, the company ranks better than 75.16% of the field. Operationally, the fintech firm also features attractive attributes. For example, its three-year revenue growth rate is 9.7%, above 71.47% of the industry. As well, its operating margin pings at 18.63%, beating out nearly 84% of sector players. Turning to the Street, analysts peg GPN as a consensus moderate buy. In addition, their average price target stands at $139.74, implying nearly 33% upside potential.

PayPal (PYPL)

Another big name in the burgeoning fintech ecosystem, PayPal (NASDAQ:PYPL) specializes in digital payment solutions. As well, the company provides business management software for independent entrepreneurs. With the gig economy rapidly growing in popularity – thanks in no small part to the wider remote operations experiment – PYPL may be one of the best discounted blue-chip stocks to buy.

Nevertheless, investors must exercise patience. In the trailing year, PayPal shares tumbled 23%. And in the past five years, they’re down almost 8%. Enticingly, though, Gurufocus.com identifies PYPL as significantly undervalued based on its proprietary FMV calculations.

Objectively, PayPal still delivers the goods operationally. For example, its three-year revenue growth rate stands at 16.7%, outpacing 77.53% of the competition. Also, during the same period, its book growth rate pings at 7.4%, above 63% of its peers. Finally, covering analysts peg PYPL as a consensus moderate buy. Their average price target hits $111.15, implying over 46% upside potential. Thus, if you can handle the heat, PayPal is one of the blue-chip stocks to buy.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.