Cheap stocks to buy in the fourth quarter, according to HSBC

HSBC recommends investors to broaden their exposure in the fourth quarter by seeking stocks with reasonable valuations, following a winning month for stocks in September. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all closed positively, with the Federal Reserve cutting interest rates by a half point. GM, Pfizer, Goldman Sachs, and Delta Air Lines are among the 15 names listed by HSBC with discounted valuations for investors to consider, with GM showing a 27% surge in shares, Pfizer down almost 1% but with a consensus price target implying 16% upside, and Goldman and Delta with shares soaring more than 28% and 22.5% respectively in 2024.

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