Stocks have sold off sharply over the past month, leaving several prominent companies trading at steep discounts to their historical valuations — suggesting a bounce back might be on the horizon. The S & P 500 was down 7.5% in a month in early trading Thursday. The Dow Jones Industrial Average was down about 6% in a month. The Nasdaq Composite was harder hit, dropping 11.4%, putting the tech-heavy index firmly in a correction. Several stocks have seen severe pullbacks as geopolitical turmoil and mounting recession fears have rocked markets, but the recent sell-off has also transformed some into what might prove good buying opportunities. CNBC Pro used LSEG data to find companies in the S & P 500 that are highly recommended by analysts and that look cheap, using historical measures of value. The stocks that follow are selling between 25% and 50% below the past five year’s average price-to-earnings ratio. Each one also boasts a consensus buy rating from Wall Street analysts, and boast average 12-month price targets that are at least 30% above where the stocks trade today. Take a look at the stocks below: Technology stocks have been battered in the sell-off, dragged down by not only macroeconomic headwinds but also concerns about a slowdown in artificial intelligence investment. E-commerce giant Amazon is now trading at an attractive valuation after pulling back by roughly 12% over the past month. Amazon is trading 38% below the past five years’ average trailing P/E ratio. Wall Street is bullish on the megacap, with analysts forecasting more than 35% potential upside. JPMorgan reiterated Amazon as an overweight on Tuesday, saying it remains a top stock idea and should gain retail market share share in the event of a future recession thanks to its low prices, wide selection and growing sales of staples. Energy is the best-performing sector in the S & P 500 this year, but Diamondback Energy and Devon Energy are a couple of standout names in the group that have attractive valuations. Diamondback shares are down 13% in the past six months, while Devon has fallen 26% over the past year. Diamondback is trading at a trailing P/E of 10, about 34% below its average P/E over the past five years. Devon’s multiple is about 33% below its five-year average. Other stocks that made the list include Salesforce , Adobe and Target .
