Even with the recent pullback, the stock market remains near all-time highs. There aren’t many stocks with attractive valuations. Of those, quite a few aren’t the kinds of stocks you’d want to touch with a 10-foot pole.
That doesn’t mean that there aren’t some appealing stocks available at bargain prices, though. Here are three cheap ones that you can buy and hold.
AbbVie (NYSE:ABBV) shares trade at only 7.4 times expected earnings. The big pharma stock is available at a discount primarily because investors aren’t sure how AbbVie will perform once its top-selling drug Humira begins to face biosimilar rivals in the U.S. beginning in 2023.
But there are plenty of reasons to feel pretty good about AbbVie’s prospects. The company already has strong successors to Humira on the market. Rinvoq won Food and Drug Administration (FDA) approval last year for treating rheumatoid arthritis,