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33 Undervalued Stocks for 2022: Morningstar

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Related: 9 Undervalued Stocks in Top-Performing Sectors: Morningstar

U.S. stocks finished 2021 with an impressive 24% return, as measured by the Morningstar US Market Index, despite the ongoing pandemic and rising inflation. 

“Not surprisingly, we think stocks are overvalued today,” Susan Dziubinski, director of content for, wrote in a blog post this week. “The median stock in our North American coverage universe traded at a 5% premium to our fair value estimate at year’s end.”

Still, some undervalued opportunities exist. In his latest stock market outlook, David Sekera, Morningstar’s chief U.S. market strategist, says that energy remains the most undervalued sector at the start of 2022, with the communications sector the next cheapest.

See the gallery for Morningstar analysts’ best ideas for undervalued stocks across 11 sectors.

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