Amid today’s historically expensive market, there are still a host of health care and energy companies that are attractively priced for investors. Stocks have had an impressive run this year, with the Dow Jones Industrial Average and S & P 500 ending November trading on a strong note, touching all-time highs this past week. The 30-stock Dow added 1.4% in the latest week while the the S & P 500 and Nasdaq Composite indexes both rose 1.1%. That still leaves a raft of companies that the market hasn’t given adequate credit to, despite this year’s rally, according to several yardsticks. For example, using the CNBC Pro stock screener, we found stocks in the S & P 500 that are trading at a discount and could see significant outperformance in the future. The names we found all meet the following criteria: A forward price-to-earnings ratio of less than 25, less than that of the S & P 500 A consensus buy rating from Wall Street analysts An average 12-month price target implying at least 30% upside Shares of a couple of biotechnology companies could bounce back in the next year. Biogen , down 38% this year, has faced slumping sales of its multiple sclerosis therapies, its biggest drug category. But analysts polled by LSEG have a consensus price target that implies more than 56% potential upside for the stock. Biogen, with a forward price-to-earnings ratio of 10, recently beat Wall Street’s third-quarter earnings and revenue estimates and lifted its full-year profit guidance. The Cambridge, Mass.-based company has seen rising sales of Leqembi, its breakthrough Alzheimer’s drug, as well as new rare disease and depression treatments. Another biotech, Regeneron Pharmaceuticals , also turned up on the screen. The stock has plunged 29% so far this quarter and is now down nearly 15% this year. But based on analysts’ consensus target, Regeneron could return about 44% over the coming year. JPMorgan recently named Regeneron a long, large-cap biotech pick, partly as a result of surveying respondents to a recent buyside survey. “Looking to 2025, we see biotech fundamentals continuing largely intact as companies post clinical and regulatory wins and execute on the commercial front – all of which underscores innovation,” JPMorgan said in a Nov. 25 note to clients. Some energy producers are also trading at cheap valuations, according to the screen. Oil and natural gas producer Devon Energy , utility and power generator AES and oilfield services provider SLB all made the cut. AES has the highest projected upside (56%) in the group, and the lowest forward price-to-earnings ratio of 6.6. The company is likely a beneficiary of generative AI, with Morgan Stanley analyst David Arcaro saying in a September report that “AES remains well positioned to serve data center renewables demand, where it still sees robust interest and upward pressure to returns.” Other companies that turned up that are trading at a discount and may be poised for outperformance included managed care company Centene , chipmaker Micron Technology and solar panel maker First Solar .