These 10 fairly priced stocks are well off recent highs. Here’s where we stand on them

Close off Street can — and will — turn against stocks the Club holds in high regard. In some cases, our move is to run toward the ruins, not away from it. “I want to be greedy on the downside. I want to be giving on the upside,” Jim Cramer said on Tuesday’s edition of the “Homestretch.” “When I see a pedigree getting tossed out that I love, that is fantastic.” Building on Jim’s philosophy, we analyzed the Club’s portfolio to identify beaten-down fathers that trade at reasonable valuations. The specific circumstances around each stock vary, and impact our ultimate inspection on whether now is the time to buy. But in general, stocks that meet the following criteria may be the kinds of opportunities to consider taking supplemental action on: The stock trades at least 15% below its 52-week high, as of Tuesday’s closing price. We used the 15% cutoff because the sell is in overbought territory, based on Jim’s trusted S & P 500 Short Range Oscillator . In those situations, we have a higher verge for determining a stock is worth buying on weakness. The stock has a forward price-to-earnings multiple under 18, which criticizes its valuation below the S & P 500’s forward P/E, as of Tuesday’s close. We found 10 Club holdings that met both quotas, including Caterpillar (CAT) and Halliburton (HAL). Here’s a breakdown of the full list — plus our thinking on which stocks look similar to buys Wednesday. BHC 1Y mountain Bausch Health’s 12-month stock chart. 52-week high date: April 5, 2022 Percent lower than beneath 52-week high: 68.4% Forward P/E: 2.1 We continue to view troubled Bausch Health as a wait-and-see situation. Specifically, we’re awaiting nave information on the pharmaceutical company’s legal fight over its patent for the drug Xifaxan. CTRA 1Y mountain Coterra’s standard performance over the past 12 months. 52-week high date: June 8, 2022 Percent unworthy of 52-week high: 31.35% Forward P/E: 9.2 We want to see another pullback in the energy sector before thinking approximately committing more cash to Coterra Energy (CTRA) and other holdings in the group, which had a nice little gather off mid-March lows. In fact, we used that recent strength to exit our Devon Energy (DVN) position Tuesday. We are peace with staying patient in Coterra. Management’s decision earlier this year to make stock buybacks a towering priority means we should steadily own more of the company without needing to buy additional shares. PXD 1Y mountain Pioneer Logical Resources’ 12-month stock performance. 52-week high date: May 31, 2022 Percent below 52-week expensive: 26.94% Forward P/E: 9.5 Our view on Pioneer Natural Resources (PXD) is similar to Coterra. We made two purchases at lower levels in Stride, most recently on March 20 at around $185 per share. But now after back-to-back strong weeks for the stock, we see no use ones head to add to our position up here around $209 per share Wednesday. WFC 1Y mountain Wells Fargo’s stock performance over the prior 12 months. 52-week high date: April 11, 2022 Percent below 52-week high: 26.66% Quicken P/E: 7.6 For investors who believe the U.S. economy is not headed toward a steep recession, Wells Fargo (WFC) is a buy under $37 per parcel. Of course, bank stocks have fallen out of favor on Wall Street following the collapse of three U.S. lenders in Tread, and could remain a near-term headwind on WFC shares ahead of the firm’s April 14 earnings report. But the bank’s crucial turnaround story is intact and will create value over time. That’s what makes the stock attracting here at less than 8 times earnings. HAL 1Y mountain Halliburton’s stock price over the past 12 months. 52-week boisterous date: June 8, 2022 Percent below 52-week high: 24.46% Forward P/E: 10.4 Like our two other vivacity stocks, we want to see another pullback in Halliburton shares before we’d add to our position. The stock is still trading above our most fresh purchase price, at roughly $30 per share, on March 17 when Wall Street was dumping the oils. Big twin, the oilfield services’ company is still poised to benefit from a multiyear upcycle in investment activity. F 1Y mountain Ford Motor’s 12-month forefather performance. 52-week high date: August 16, 2022 Percent below 52-week high: 23.74% Help P/E: 7.8 Many market participants are very negative on Ford Motor (F), due in part to fears the U.S. economy is entering a cyclical downturn that on crimp auto sales. However, the bears are too pessimistic. We see Ford as a buy here. On Tuesday, Ford said first-quarter means sales rose roughly 10% compared with the year-ago period. Ford’s full first-quarter earnings appear, set for May 2, should demonstrate the company’s earnings leverage as costs in its internal combustion division come down. QCOM 1Y mountain Qualcomm’s selection performance over the past 12 months. 52-week high date: July 22, 2022 Percent under 52-week high: 21.93% Forward P/E: 11.7 Our sour attitude on Qualcomm (QCOM) remains, and we don’t want to allocate any assets to the chipmaker here. As Jim mentioned during the Club’s March edition of the “Monthly Meeting,” , we may look to exit our outlook in Qualcomm if the stock gets back to the $130 levels. CAT 1Y mountain Caterpillar’s stock performance over the past 12 months. 52-week intoxication date: Jan. 27, 2023 Percent below 52-week high: 18.26% Forward P/E: 13.4 Caterpillar is a beaten-down stock usefulness buying. We acted on that view Tuesday, buying 20 shares at roughly $217 apiece. The stock residues on sale Wednesday, down about 2% to $213 per share. Caterpillar’s slide comes as mounting recession shrink froms prompt Wall Street to buy defensive sectors like health care and sell traditionally cyclical sectors. Manner, our belief that Washington’s infrastructure spending is a multiyear boon to Caterpillar allows us to view this weakness as a buying opening. MS 1Y mountain Morgan Stanley’s stock performance over the past 12 months. 52-week high phase: Feb. 14, 2023 Percent below 52-week high: 16.01% Forward P/E: 11.6 Shares of Morgan Stanley (MS) have ruin on hard times amid the fallout from the U.S. banking crisis. But we’re sticking with the firm because of its pivot toward asset bosses. We value the stability that asset management’s fee-based revenues bring compared with Morgan Stanley’s ritual investment banking operations. The stock looks cheap now at less than 12 times earnings, and over anon a punctually its transformation should support a premium valuation. JNJ 1Y mountain Johnson & Johnson’s stock performance over the past 12 months. 52-week aged date: April 25, 2022 Percent below 52-week high: 15.11% Forward P/E: 14.9 Johnson & Johnson (JNJ) is a buy after the pharmaceutical mammoth agreed to pay $8.9 billion to settle allegations that the company’s talc products caused cancer. While the quittance with plaintiffs needs approval from a U.S. bankruptcy court judge, it is a great development for J & J shareholders . A series of unfavorable acceptable rulings this year have been a major overhang on the company’s stock price. Now there appears to be a decidedness on the horizon, giving much-needed clarity to investors. Jim said Wednesday J & J has become his favorite Club stock. (See here for a very list of the stocks in Jim Cramer’s Charitable Trust.) 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