The unrelenting sell-off in markets this year may have left some stocks way too cheap based on certain metrics. The S&P 500 is down 22% year-to-date, trading squarely in bear market territory as concerns about high inflation and rising interest rates have weighed on the market. Still, there are some parts of the market where selling may be over-selling, creating buying opportunities in stocks that could rise going forward. To find these names, CNBC Pro searched for S&P 500 stocks that met the following criteria: A forward price-to-earnings ratio, which looks at estimated earnings for the next 12 months, of less than 10; earnings per share growth expectations of 10 % or more this year Uptrend towards consensus price target of 10% or more Here are the 18 names that made our list: Ford is one of those automakers that feels whiplash when consumers turn away from big items like cars, when the Covid-19 measures are rolled out fully and inflation cools spending. Last week, UBS downgraded the stock to sell from neutral, noting that the industry is starting to see oversupply after nearly three years of booming demand. Shares are down 41.6% this year, but analysts see upside potential averaging 26.5%, FactSet data shows. The stock trades at a forward price-to-earnings ratio of 6.5, and analysts expect Ford’s earnings to rise 24.5% this year. Pfizer also made the list. The stock trades at a forward price-to-earnings ratio of 7.9, and analysts see upside potential averaging more than 27% on average. Pfizer shares are down more than 26% in 2022. Analysts at Cantor Fitzgerald recently reiterated their overweight position in the stock, stating, “We have extended our model from 2028E to 2035E, accounting for Biohaven’s sales in 2023E and beyond. This shows Pfizer’s earnings potential beyond losing exclusivity on key drugs through the end of the decade. We think that’s still underestimated.” Another name that made it onto our list is Fox, which recently attracted the attention of investors after announcing the formation of a committee to examine a possible reunion with News Corporation – also owned by Rupert Murdoch – is being considered While proponents have pointed to the money-saving measures, some have questioned how it would make sense for shareholders after the two companies broke up nearly a decade ago Fox is down nearly 7% on the news this week, but the stock is trading at a multiple of just 8.6 and analysts, on average, think the stock could climb 33.6%.
