Value investing remains as popular as ever - although, after a remarkably strong performance by the broader market this year, it might seem harder than ever to find truly compelling value stocks. With the S&P 500 Index ($SPX) up more than 18% on the year, even boring consumer staples stocks like Procter & Gamble (PG) are now trading at a significant premium to historical valuation multiples.
In the simplest terms, value investing refers to buying stocks that appear underpriced relative to their intrinsic value, or book value. Here, we've uncovered two well-established stocks that are value priced at current levels, buy-rated by analysts, and offer healthy upside potential heading into 2024.
