Are you looking for an undervalued long-term pick you don't need to continually watch? That's actually a tall order these days. Many of the most compelling stocks either don't have an obviously bullish distant future, or they require constant monitoring, or both.

There's a handful of prospects, however, that fit this bill and would also be at home in most people's portfolios. One of the best of these names is hiding in plain sight. That's carmaker Toyota Motor (NYSE: TM), which Wall Street says is more than 30% undervalued where it's priced right now.

Surprised? It would be a little surprising if you weren't. The brand was a titan within the automobile industry from the 1980s into the 2000s. Then the business changed. Competitors stepped up their games. Cars -- including Toyota's -- began lasting longer, recently reaching a record-breaking average age of 12.6 years in the United States, according to numbers from S Global Mobility. The advent of the electric vehicle further disrupted the global automobile market. These are all reasons that Toyota Motor just isn't the head-turner it used to be.

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Source Fool.com