What a week! The Dow and the S&P 500 both lost 5.2%, while the Nasdaq shed 5.1% as rising interest rates left investors jittery. “When the nervousness hit, a lot of people who were thinking of quitting hit the exits,” Key Private Bank’s Bruce McCain told CNBC. “A lot of people want to let it settle out a bit and really make sure the worst has past … [but] for our standpoint on where we’ll be over the next year: We see no signs of recession.”

Indeed, for some market commentators, pullbacks can produce interesting buying opportunities. “Although a massive market drop can be attention-grabbing, it can also present a buying opportunity,” wrote Kathryn Vasel, personal finance reporter for CNNMoney.

And if we look at top analyst stock recommendations and price targets, these five stocks look especially undervalued right now. Plus all these five stocks boast a ‘Strong Buy’ analyst consensus rating from the Street, based on only the last three months of ratings.

So without further ado, let’s dive in:

1. Amazon (NASDAQ:AMZN)

  • 34 buy ratings vs 2 hold ratings in last three months
  • 23% upside potential from current share price
  • Even shares in one of the world’s most exciting companies suffered last week- with shares off by 6.32% at $1,339. But note that this appears to be a small blip on Amazon’s massive growth trajectory. On a 1-year basis shares are up by no less than 63%- and even on a three-month basis shares are up over 18%.

    Looking forward, Amazon has plenty of meaningful revenue streams to keep growth rates rising. Most notably, the company is now reportedly planning a new service to pick up packages from businesses and deliver them to consumers. According to the Wall Street Journal, the service, called “Shipping With Amazon,” is expected to start in LA and roll out more broadly within the year. According to Baird’s Colin Sebastian with “just 1% of the market, Amazon could create a new $5B revenue stream.” Shares in rival delivery companies UPS and FedEx slipped on the news.

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