This Cheap Stock Is Still a Buy Even After 50% Rally

Plus: Best- and Worst-Performing Stocks of Q3, What the Election Could Mean for Big Tech Stocks and Morningstar’s Guide to Investing in Stocks. [Morningstar](?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_stockstrategist&utm_content=58296&elqTrackId=c38653cb72a345529446bb6e670882eb&elq=747490a9ddec4fea97e8150190701e2f&elqaid=58296&elqat=1&elqCampaignId=29732&elqak=8AF5E55701A0B2FDD0F27D7483CD9DC609C202D21F63E1DDDDC30BCA41E3A1353F23) [Stock Strategist] Stock Strategist October 7, 2024 Good Morning! Here's the rundown of what's happening in the stock market. We close out another quarter with our [Q3 review in 13 charts](. We’ve also pulled together a list of the [top-performing dividend stocks for the quarter]( (a list that includes a toy company, a tech stock and a company whose products may be in your garden shed) and a roundup of the [best- and worst-performing stocks]( (which list did Moderna land on?) What’s next for the markets? David Sekera, chief US market strategist, has [his outlook]( for the fourth quarter, with thoughts on where Morningstar’s stock analysts see the best opportunities for investors. Meanwhile Morningstar equity analyst Malik Ahmed Kahn examines [what the election could mean for big tech stocks](. For one-stop shopping, you can find all our third-quarter reviews and [fourth-quarter outlooks here](. That includes our outlooks for the different stock sectors, including [utilities]( [healthcare]( and [real estate](. Lastly, we update our quarterly screen of [33 undervalued stocks]( with three names across each sector that are trading at attractive prices. Which Stocks Are Up? Vistra [VST]( Helmerich & Payne [HP]( Diamondback Energy [FANG]( Patterson-UTI Energy [PTEN]( Williams Companies [WMB]( Which Stocks Are Down? Humana [HUM]( Intellia Therapeutics [NTLA]( Shoals Technologies Group [SHLS]( Harley-Davidson [HOG]( Coinbase Global [COIN]( For the Trading Week Ended October 4: - The Morningstar US Market Index rose 0.21%. - The best-performing sectors were energy, up 6.85%, and utilities, up 1.17%. - The worst-performing sector was real estate, down 1.97%. - The yield on 10-year US Treasury notes rose to 3.98% from 3.75%. - West Texas Intermediate crude prices rose 8.51% to $74.57 per barrel. - Of the 703 US-listed companies covered by Morningstar, 427, or 61%, were up, five were unchanged, and 276, or 39%, were down. Don't Miss: - [This Cheap Stock Is Still a Buy Even After 50% Rally]( - [33 Undervalued Stocks]( - [Best- and Worst-Performing Stocks of Q3 2024]( - [New 4-Star Stocks]( - [Q3 in Review and Q4 2024 Market Outlook]( ADVERTISEMENT [media]( [media] [This Cheap Stock Is Still a Buy Even After 50% Rally]( [This Cheap Stock Is Still a Buy Even After 50% Rally]( Shares of this wide-moat company look 36% undervalued today. Ivan Su [See Stock]( Share: [facebook]( [twitter]( [linkedin]( [33 Undervalued Stocks]( [33 Undervalued Stocks]( Here’s the new list of Morningstar’s top underpriced analyst picks to buy for the fourth quarter of 2024. Susan Dziubinski [Best- and Worst-Performing Stocks of Q3 2024]( [Best- and Worst-Performing Stocks of Q3 2024]( Palantir and AppLovin rank among the best stocks for the quarter, while the worst include DexCom and Moderna. Bella Albrecht [10 Top-Performing Dividend Stocks of Q3 2024]( [10 Top-Performing Dividend Stocks of Q3 2024]( IBM and Entergy are among the quarter’s high-yielding winners. Bella Albrecht [Q3 in Review and Q4 2024 Market Outlook]( [Q3 in Review and Q4 2024 Market Outlook]( Our analysts put Q3′s performance trends for stock sectors, bonds, and funds into perspective, and look ahead with a fresh outlook for the fourth quarter. Tom Lauricella [Q4 Stock Market Outlook: Where We See Opportunities for Investors]( [Q4 Stock Market Outlook: Where We See Opportunities for Investors]( The great rotation out of overvalued and overextended large-cap growth stocks has further room to run. David Sekera [What the Election Could Mean for Big Tech Stocks]( [What the Election Could Mean for Big Tech Stocks]( New regulations could lead ‘Magnificent Seven’ companies like Microsoft and Alphabet to pull back on mergers and acquisitions. Malik Ahmed Khan [Morningstar’s Guide to Investing in Stocks]( [Morningstar’s Guide to Investing in Stocks]( How our approach to investing can inform your stock-picking process. Emelia Fredlick [New 4-Star Stocks]( [New 4-Star Stocks]( Mizuho Financial Group and IQVIA are among the stocks that fell into undervalued territory. Bella Albrecht [13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds]( [13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds]( Stocks rebounded as the rotation from tech finally took hold and the Fed cut rates. Sarah Hansen, Bella Albrecht [Top Stocks to Own From the Best Fund Managers]( [Top Stocks to Own From the Best Fund Managers]( Find new ideas for your watchlist from money managers Morningstar considers to be “smart money” investors. Susan Dziubinski [2 Cheap Stocks Top Managers Have Been Buying]( [2 Cheap Stocks Top Managers Have Been Buying]( A couple of the best fund managers like these undervalued stocks. Susan Dziubinski [The 10 Best Companies to Invest in Now]( [The 10 Best Companies to Invest in Now]( These undervalued stocks of high-quality companies are attractive investments today. Margaret Giles [Recent Company Earnings]( [Recent Company Earnings]( Discover new actionable opportunities today with our earnings coverage and analyst insights. Think Like an Analyst With Morningstar Investor Understand funds and stocks from all angles with Morningstar Investor's powerful—and proven—investment ratings and research. Find and compare securities using our comprehensive valuation and performance metrics and get our continuous, unbiased take on the long-term value of thousands of investment opportunities. Investor is your one-stop shop for making better investment decisions. [Start your free trial today](. Thanks for reading! 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