As stocks try to claw their way out of a hole, Wall Street analysts are still finding bargains. Investors who have been jittery about the market outlook after President Donald Trump’s off-again-on-again tariff threats briefly have a sigh of relief after the Federal Reserve on Wednesday hinted at two interest rate cuts later this year. But while stocks have steadied following the monthlong sell-off that started in February, the S & P 500 remains some 8% below its all-time high, while the Nasdaq Composite is down more than 12%. The drawdown has led some analysts to change how they sift through stocks in their coverage universe. In many instances, experts are advising investors to buy the dip in stocks that they say now sell at a more reasonable valuation or are out of alignment with their industry. Analysts are finding pockets of value across a wide area of industries, from software to heating, ventilation and air conditioning. Here’s a look at some notable stocks analysts have played up in recent weeks. Carrier is now “cheap enough,” says JPMorgan A period of downward revisions to estimates for Carrier in response to uncertainty around tariffs is coming to a close, according to analyst Steve Tusa. The stock should be able to catch up to peers that are selling at heightened valuations, he noted. “[The] valuation here is now at its record relative lows and stands out versus peers who face the similar uncertainty, but are trading at a premium,” Tusa said. The analyst upgraded the HVAC stock to overweight on March 5, and lifted his price target to $78 per share from $77, implying more than 17 % upside from Thursday’s close. At a 13 times forward P/E ratio, Tusa said Carrier trades at roughly a 12% discount to other HVAC stocks. CARR 1Y mountain Carrier Global shares over the past year. Adobe is cheap compared to peers, says Barclays Adobe CEO Shantanu Narayen is committed to increasing revenue by at least 10% annually at the software company, wrote Barclays analyst Saket Kalia in a note this week. That promise, coupled with a focus on rapidly expanding earnings, isn’t factored into Adobe’s current valuation, leaving the stock at a bargain compared to peers, Kalia said. “If this is true, [the] stock is too cheap at ~17x CY26 PE versus comps at ~23-26x,” the analyst said. The analyst also highlighted Adobe’s generative artificial intelligence application, Firefly, which he said will be a significant contributor to Adobe’s top line once tiered pricing and support for third-party platforms is fleshed out. Semicaps overall are cheap, but stick with ASML, says Bank of America Semiconductor capital equipment plays — companies that make equipment for semiconductor manufacturers to make and test their chips — are currently trading at a more than 12% discount compared to the segment’s five-year average, said BofA analyst Didier Scemama. “Overall Semicaps and Semis trade at a discount to their history given macro concerns while Hardware stocks trade at a premium, in spite of very modest consensus EPS upgrades and likely headwinds from tariffs in the coming months,” Scemama said. Within the group, the analyst highlighted Dutch semiconductor equipment maker ASML as cheap with positive earnings momentum. The stock trades at a roughly 24% discount compared to its average five-year forward enterprise-value-to-EBITDA multiple. Scemama’s buy rating and $910 per share forecast implies 24% upside over the next 12 months.
