The decrease in the jobless claims and a solid start to the third-quarter earnings season have of late fostered positive market sentiment. The continuing low-interest-rate environment is also contributing to investors’ confidence. Given this backdrop, we believe stocks with attractive long-term growth prospects—SS&C Technologies (SSNC), Amdocs (NASDAQ:DOX), Criteo (CRTO), and EchoStar (SATS)—which look undervalued at their current price levels, could be ideal picks now. So, let’s discuss.The major stock indexes rallied last week, and today’s index futures indicate bullish investor sentiment. A solid start to the third-quarter earnings season is the key catalyst. The market also received support from news that initial jobless claims fell below 300,000 for the first time since the pandemic.
Though the inflationary environment and supply chain constraints remain concerns, continuing low interest rates and solid corporate earnings should keep supporting the market’s momentum in the near term.
Therefore, we think it could be wise to bet on quality stocks SS&C Technologies Holdings, Inc. (SSNC), Amdocs Limited (DOX), Criteo S.A. (CRTO), and EchoStar Corporation (SATS). They all look undervalued at their current price levels.