From Nasdaq:

The Nasdaq tumbled on Tuesday due to big moves lower from Apples and other tech names. However, it’s expected that the dips might be bought up quickly as more investors big and small chase returns in 2024 as rates fall. Investors are being shown how to screen for stocks that offer strong value this year. This value-focused screen searches for stocks with highly-ranked Zacks stocks, a P/S ratio under the median for its industry, and quarterly earnings rates above the median for its industry.

NRG Energy, Inc. (NRG), a utilities powerhouse based in Houston, Texas, was able to match all the requirements. It’s projected to grow by 93% in FY23 and 18% higher next year. With a dividend yield of 2.9%, and a 60% gain in the last 12 months, NRG looks like a strong pick. Utilities appear poised for a comeback, and despite its outperformance and its recent surge to new highs, NRG trades at a 27% discount to the Utilities sector and right near its 10-year median at 10.2X forward 12-month earnings.



Read more: Finding the Best Value Stocks to Buy to Start 2024