Other bulls, like Goldman Sachs' Managing Director Lori Appelbaum, say that Wells' shares have upside of as much as 15% over the next 12 months, barring some sort of sharp economic deceleration. The shares, Appelbaum notes, are trading at about 11 times her 2008 earnings estimate, or near the low end of the stock's three-year trading range between 9.7 times and 14 times earnings. (Appelbaum recently announced that she's retiring from Goldman later this year, although her recommendations remain in effect.)

After dipping in recent months, the shares look cheap. They could climb by 30% or more as the company powers up in lighting and medical gear, and reaps more cost savings.

Last week's plunge was way overdone. The stock could jump nearly 50%.

AMAT rallied more than 7% last week, to around $19, but still looks cheap: Citigroup's Timothy Arcuri thinks the company can generate pro forma profits of $1.50 a share in the October 2009 fiscal year (he sees $1 this year) and thinks $1.84 is possible in 2010. That gives AMAT a P/E of under 13 times his '09 estimate, and about 10 times his 2010 number. Arcuri last week raised his target on the stock to $26 from $23, and says "$30 looks in reach."

After rising to 37 from 24 last year, Logitech International (ticker: LOGI) is back at 27. That might be a good entry point, given a 41% jump in the company's third-quarter profits on a 13% rise in sales. Of particular note, Asia-Pacific sales jumped 44%, while sales of Harmony remotes surged 72%.

About 30% of the carbon pitch used in North America today is imported from China, and "we sense that these imports are slowing due to higher associated costs and stronger Asian demand," notes KeyBanc analyst Saul Ludwig. That combination of strong demand and slowing imports gives Koppers pricing power when negotiating with customers. At about 36, Koppers shares are trading at 11.5 times 2008 earnings, compared with 18.3 times for other specialty chemical companies and 15.2 times for railroads and their suppliers.