Seven criminally undervalued stocks to watch in March 2024: Part one

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on Feb 28, 2024
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  • Undervalued stocks represent unique opportunities for traders to cash in on the current equity market.
  • From consumer staples to cosmetics and AI fever, there are good deals to be had.
  • ere, our first top four picks for March 2024.

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The stock market is an interesting place at the moment, with some heralding 2024 as the ‘year of equities’ and others sure that a United States stock market crash is imminent.

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But regardless of what happens next, there are still good deals to be had in stocks if you know how to discern an undervalued, yet quality, company.

Here are the first four stocks we have our eye on, which are really undervalued and present good value for money, in our opinion:

  1. Honda Motor Company
  2. Taiwan Semiconductor Company
  3. Mondelez
  4. The Estée Lauder Companies

1. Honda Motor Company

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  • Current share price at the time of writing: JPY1780 ($11.82 in USD)
  • Year-to-date (YTD) share price appreciation or depreciation: up 18.90%
  • Year-on-year (YoY) share price appreciation or depreciation: up 49.20%

As we all know, the Japanese stock market has been on a historic winning streak lately. And, thanks to the USD/JPY exchange rate, you can still get established, respected Japanese brands for comparatively low amounts of US dollars.

Honda is a great example. The company’s share price has zoomed up by almost 50% in under a year, and yet buying one Honda share will cost you half of that of a Toyota share (JPY3,570 at the time of writing).

This is largely because Honda lacks the media buzz currently circulating around Toyota for the recent progress they’ve made into an EV future. Honda has been a tried-and-trusted car brand in the background lately.    

As of today, that looks set to change. Honda announced yesterday that it will soon introduce an all-new vehicle in both North American and Japanese markets, which is a new plug-in hydrogen model.                                                              

2. Taiwan Semiconductor Company

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  • Current share price at the time of writing: TWD698.00 ($22.05 in USD)
  • YTD share price appreciation/depreciation: up 17.71%
  • YoY share price appreciation/depreciation: up 33.72%

Those who have been salivating over the Nvidia headlines may want to consider this one. The Taiwan Semiconductor Company (TSM) is a more expensive stocks in new Taiwan dollars (TWD) – but it’ll still only cost you around $22 per share.

And TSM is the largest silicon chip manufacturer in the world, which is sure to profit from the ongoing hype surrounding AI and all-things-Nvidia that looks like it’s here to stay.

3. Mondelēz International (NASDAQ: MDLZ)

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  • Current share price at the time of writing: $73.13
  • YTD share price appreciation/depreciation: down 0.96%
  • YoY share price appreciation/depreciation: up 12.20%

Chocolate-producing companies have been hit hard by the historically high cocoa price – but Mondelēz (which owns Cadbury’s) has emerged quite unscathed.

Compared to rival the Hershey Company, who’s stock price is down almost 22% YoY and more than 2.5% in 2024 so far alone, Mondelēz is doing well.

And, with seasons like Easter coming and cocoa prices set to normalise in the coming months, this stock is somewhat undervalued for its comparative sweetness – for now.  

4. The Estée Lauder Companies

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  • Current share price at the time of writing: $148.51
  • YTD share price appreciation/depreciation: up 2.10%
  • YoY share price appreciation/depreciation: down 38.90%

At almost $150 per share, this is far from the cheapest stock on this list… but it is also one of the most undervalued. 

The luxury goods industry has seen a rough three years, which saw nearly forty percent of Estée Lauder’s share price evaporate. 

This was not helped by disappointing financial results this earnings season – and yet the company remains as solid as ever.

Better still, with brands like La Mer, Clinique and Bobbi Brown in its stable, it’s poised to benefit massively from the coming luxury renaissance we’re predicting. 

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