Subscribe to Updates

    Get the latest creative news from CRYPTO NOUNCE.

    What's Hot

    Millions of Sites at Risk!

    April 1, 2023

    Between Arbitrum’s [ARB] surging demand and whirlwind drop-off

    April 1, 2023

    Solana’s NFT space can recover soon, but SOL’s troubles are far from over 

    April 1, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram Vimeo
    Cryptonounce.com
    Contact
    • Business
      • Deals
      • investors
      • IPO
      • Startups
      • Wall Street
    • Markets
      • Bonds
      • Commodities & Futures
      • Currencies
      • Funds & ETFs
      • Stocks
    • Crypto
      • Alticoins News
      • Binance News
      • Bitcoins News
      • Blockchain News
      • Ethereum News
      • Token Sales News
      • XRP News
    • Technology
      • Artificial Intelligence
      • Big Data
      • Cloud Computing
      • Cybersecurity
      • Gaming
      • Internet of Things
      • Mobile
      • Social Media
      • Transportation
      • VR & AR
    • FinTech
    • Personal finance
    • Grides
      • Crypto
      • FinTech
      • Investing
      • Personal Finance Guides
      • Techonology
    • Tools
      • Coins
      • ICO List
      • Organigations
      • Events
    Cryptonounce.com
    Home » These 12 cheap stocks are off to a great start in 2023
    Investing

    These 12 cheap stocks are off to a great start in 2023

    AdmincryptBy AdmincryptJanuary 9, 2023No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    After a brutal year for growth stocks, some companies are trading at steeper discounts on a price-to-earnings basis than they have in recent history, and that could present an opportunity for investors. Stock tumbled in 2022 to their worst yearly performance since 2008 . The tech-heavy Nasdaq Composite Index plummeted more than 33%, while the S & P 500 shed 19.4% as the Federal Reserve hiked rates to subdue cripplingly high inflation, leading to mounting fears that a recession would follow. While the recent selloff wiped out trillions in market cap among some of the world’s biggest companies, these sharp discounts may present a one-of-a-kind buying opportunity for investors in the new year. Given this setup, CNBC Pro screened for stocks that are already beating the market less than two weeks in to 2023, and trading cheaply based on their forward price-to-earnings ratios. Here’s the criteria we searched for: Forward P/E at a discount of 10% or more to the average forward P/E over the past five years Up more than 1.5% so far in 2023, and beating the market Loved by analysts, with 70% or more rating the stock a buy Consensus price targets offering upside of at least 10% Shares of Amazon sold off sharply in 2022, tumbling about 50% as technology and growth stocks took a beating. The dominant e-commerce retailer also suffered its biggest one-year loss since 2000 as it grappled with investors facing a looming recession fears, and consumer shifting spending to services from goods. After last year’s turmoil, Amazon now trades near a 36% discount to its average forward P/E over the past five years. Analysts also continue to recommend the stock, up 2.5% already this year, with more than 77% saying it’s a buy. The average price target suggests shares can surge more than 55%. AMZN mountain 2021-12-31 Amazon shares since 12/31/21 Media stocks also suffered in 2022 as streaming subscriber growth dwindled and companies faced a weakening advertising environment. Walt Disney got hit hard, dropping nearly 44% in 2022. Shares also reached a 52-week low following a softer-than-expected opening weekend for James Cameron’s “Avatar: The Way of Water.” Despite last year’s pain, Disney shares stand to gain 27% based on analysts’ consensus price target. The theme park operator also trades at a forward PE of 21 times, representing a near 28% discount to the last five years. T-Mobile shares bucked 2022’s selloff, gaining nearly 21% and, looking ahead, analysts are overwhelmingly positive on the stock. At least 78% say it’s a buy, with the consensus price target implying nearly 20% upside. On a forward P/E basis, shares trades at a 31% discount to the last five years. Citi strategist Scott Chronert named T-Mobile among his favorite large-cap stock picks for 2023 . Goldman Sachs also highlighted T-Mobile, along with Disney, among those it expects to see above-average earnings growth this year . Airlines Delta Air Lines and Alaska Air Group trade at some of the deepest PE discounts of the group. Delta currently sits at 7.1 times forward earnings, a 78% discount to its five-year average. Alaska, meanwhile, trades at 8.6 times, representing a roughly 70% discount. A weakening economy could test these stocks in the months ahead , but analysts still see their shares rallying nearly 35% each. Visa , Salesforce and Halliburton also popped up on the CNBC screen.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    Previous ArticleCoinbase stock leaps more than 15% as analysts say it can benefit from FTX’s demise
    Next Article 5 cryptocurrencies that could benefit from a positive CPI report
    Admincrypt
    • Website

    Related Posts

    Week’s top S&P 500 stocks include First Republic and this casino owner

    March 31, 2023

    Investor Dan Niles likes tech stocks including META, NVDA, INTC heading into the second quarter

    March 31, 2023

    Investors prefer dividend stocks into the second quarter as volatility persists, CNBC survey shows

    March 31, 2023

    UBS sees a rally in these bank stocks ahead as bank crisis appears contained

    March 31, 2023

    Leave A Reply Cancel Reply

    Our Picks
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    Don't Miss
    Cybersecurity

    Millions of Sites at Risk!

    By AdmincryptApril 1, 20230

    Apr 01, 2023Ravie LakshmananWeb Security / Cyber Threat Unknown threat actors are actively exploiting a…

    Between Arbitrum’s [ARB] surging demand and whirlwind drop-off

    April 1, 2023

    Solana’s NFT space can recover soon, but SOL’s troubles are far from over 

    April 1, 2023

    Terra’s branding at MLB opener draws attention from spectators

    April 1, 2023

    Subscribe to Updates

    Get the latest creative news from CRYPTO NOUNCE.

    NEWS
    • Business
    • Crypto
    • Blockchain
    • Markets
    • Technology
    FEATURED SECTIONS
    • Coins
    • ICO List
    • Organigations
    • Events
    • Grides
    FEATURED LINKS
    • Story of the day
    • Videos
    • Infographics
    CONNECT WITH US
    • Facebook
    • Twitter
    • Telegram
    • LinkedIn
    • Pinterest
    ABOUT US
    • Contact
    • Advertise
    • Sitemap
    Copyright © 2023 Cryptonounce All rights reserved. Cryptonounce.
    • Home
    • Buy Now

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?