Our CNBC Pro screen found S&P 500 stocks with an implied downside of at least 3%.
Investors beware — a number of stocks have overshot analysts' price targets, and could be due for a pullback, according to CNBC Pro. In spite of multiple hurdles this year, stocks are still broadly higher. The S & P 500 has advanced 9.5%, while the tech-heavy Nasdaq Composite has surged 24%. The Dow Jones Industrial Average is an exception, down a fraction this year. Even so, there could be trouble ahead for a host of stocks.
In fact, Citi analyst Christopher Allen initiated coverage of the investment management firm this week with a sell rating, saying there's 9% downside, according to StreetAccount. Meanwhile, Advanced Micro Devices also turned up on this list, with 10% downside risk, according to consensus expectations of its price target. Slightly more than half, or 57%, of analysts have a buy rating on the stock.
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These are the cheapest tech stocks in the S&P 500CNBC Pro screened for companies with the lowest forward P/E ratios relative to the average in the S&P 500 tech sector.
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