7 Undervalued Stocks to Buy Now

For the first day of Q3, how about the latest hot stock picks courtesy of this latest issue of U.S. News Invested.  

JUNE 29, 2023 Invested Advice, rankings and stock market news for investors.

Good morning, investors. Stocks finish mixed, and Powell hints that the Fed rate pause will be brief. Highlights of today's newsletter include our market insights plus these new articles: 7 Undervalued Stocks to Buy Now 7 Best Cybersecurity Stocks to Buy Now How Much Would $10,000 Invested in Apple Stock 20 Years Ago Be Worth Today? 7 Best Water Stocks and ETFs to Buy in 2023 7 Best Semiconductor ETFs to Buy in 2023 TODAY'S FEATURED STOCK STORY 7 Undervalued Stocks to Buy Now The S&P 500 got off to a hot start to 2023, and many stocks are now trading well off their 2022 lows. However, there are still plenty of high-quality stocks trading at attractive valuations. If the Federal Reserve can avoid a hard landing for the economy, these value investing opportunities will likely not last for long. But if inflation and rising interest rates ultimately trigger a recession, value stocks may be the best way to play defense against a stock market downturn. Here are seven undervalued stocks to buy with forward earnings multiples, or price-to-earnings ratios, of 16 or lower, according to CFRA Research analysts: JPMorgan Chase & Co. (ticker: JPM). JPMorgan Chase is one of the world's largest banks and financial services companies with roughly $3.7 trillion in assets. A string of recent bank failures has investors concerned about the stability of the financial sector. In early May, JPMorgan stepped in to acquire First Republic Bank after it failed and was seized by the Federal Deposit Insurance Corp., or FDIC. Analyst Kenneth Leon says JPMorgan is gaining potential wallet share from First Republic, unlike JPMorgan's 2008 acquisitions of the distressed Bear Stearns and Washington Mutual. CFRA has a "buy" rating and $160 price target for JPM stock, which closed at $139.20 on June 27. Chevron Corp. (CVX). Chevron is a global oil major that operates exploration and production, refining and marketing, and petrochemical businesses. Analyst Stewart Glickman says Chevron's recently announced $7.6 billion buyout of PDC Energy Inc. (PDCE) will increase Chevron's total proved reserves by about 10% and improve the company's overall reserve life. In addition, Glickman says Chevron got a good deal on the assets. He says Australian liquefied natural gas, Gulf of Mexico deep-water production and increased activity in the Permian and D-J basins will be growth drivers for Chevron. CFRA has a "buy" rating and $172 price target for CVX stock, which closed at $153.53 on June 27. Click here to continue reading. STOCKFORWARD P/E RATIOIMPLIED UPSIDE FROM JUNE 27 CLOSE JPMorgan Chase & Co. (ticker: JPM)9.714.9% Chevron Corp. (CVX)                           1012% Merck & Co. Inc. (MRK)                    1613.8% Bank of America Corp. (BAC)            845.2% Pfizer Inc. (PFE)                                1131.8% Cisco Systems Inc. (CSCO)                1218% Comcast Corp. (CMCSA)                  1220.5%