The following is a list of stocks in rally mode, i.e. trading above the 20-day. 50-day and 200-day moving averages. All of these stocks remain undervalued, when comparing the current price to the projected analyst target price (used as a proxy for fair value).
Yes, there are many limitations to using the target price to find undervalued companies, but the goal here is to give value-oriented momentum investors a starting point for their own analysis.
To create the list, we started with a universe of about 140 stocks in rally mode. We collected data on price targets, and sorted the list by discount to the average analyst target price.
All data sourced from Finviz.
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Sunday, January 9, 2011
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