Got $1,000? 2 Dirt-Cheap Value Stocks You Can Buy Right Now
There are good reasons to think that stocks in general are currently dangerously overvalued. For instance, the S&P 500's cyclically adjusted price-to-earnings ratio -- a measure of the stock market's valuation -- is currently 36.6, the highest it has been in more than 10 years.
Fortunately, even in a market where rich valuation metrics are run-of-the-mill, it is possible to find comparatively cheap stocks. Right now, two such companies are AbbVie (NYSE: ABBV) and Pfizer (NYSE: PFE). Here is why it is worth considering purchasing shares of these healthcare giants.
AbbVie currently trades for just 8.7 times forward earnings, while its price-to-earnings growth ratio (PEG) is 0.19. For context, the average forward P/E ratio for the S&P 500 is 22.3, while a PEG below 1 is generally considered undervalued.
Source Fool.com
