Stocks
soared
in
2023
,
as
investors
have
been
buoyed
by
the
narrative
of
an
end
to
rate
hikes
in
2024.
Tech
stocks
led
the
charge
as
trends
such
as
artificial
intelligence
boomed.
The
S
&
P
500
rallied
24%,
while
the
tech-heavy
Nasdaq
Composite
ended
2023
up
43.4%
in
its
best
year
since
2020.
Still,
there
are
some
stocks
trading
at
cheaper
valuations
than
the
broader
S
&
P
500,
and
which
analysts
expect
will
have
strong
earnings
growth
in
2024.
CNBC
Pro
screened
the
S
&
P
500
for
stocks
that
met
the
following
criteria:
Forward
price-to-earnings
ratio
of
less
than
21
for
the
next
12
months.
Expected
2023
earnings
per
share growth
of
20%
or
more.
Buy
rating
from
50%
or
more
of
analysts
covering
the
stock.
Here
are
some
of
the
names
that
showed
up.
Financial
and
energy
stocks
dominated
the
list.
Delta
Airlines
and
Arch
Capital
Group
had
among
the
lowest
forward
P/E
ratios,
at
6.6
and
9.7,
respectively.
Delta
also
had
among
the
highest
expected
earnings
growth
at
over
90%,
and
a
high
buy
rating
of
82%.
One
communication
services
stock
showed
up
—
Match
Group
,
with
a
forward
P/E
ratio
of
18.9
and
expected
earnings
growth
of
55.6%.
Targa
Resources
tied
with
Delta
for
having
the
highest
buy
rating
on
the
list
(about
82%).
