As many investors hesitate due to elevated market multiples and fears of recession, the article suggests that there are still undervalued stocks worth considering. It highlights three companies: Lennar, a leading home builder benefiting from organic growth and industry consolidation; Halliburton, an oil services provider, and Altria, known in the tobacco sector. Despite the challenges posed by tariffs and potential consumer spending slowdowns, the author believes that select value stocks remain 'ripe for the picking' in today's market.
Given where broad market-based multiples sit, many investors who may be sitting on the sidelines may be doing so for fear that these multiples may have gotten ahead of the market's medium-term potential.
With that said, it's my view that there's always value to be had - in any market. And while valuations remain high overall, there happen to be pockets of the market which are beaten down right now, and ripe for the picking.
Lennar, Halliburton and Altria are value stocks investors would do well to buy in May and go away.
The new home builder has seen tremendous growth in recent decades due to a combination of organic growth as well as industry-wide consolidation, which Lennar has benefited from to a disproportionate degree.
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