Western Union shares are cheap, given the company's efficient global money-transfer business and growth opportunities. The stock could gain 20% or more.

"We think the street has not yet acknowledged the size of McMoRan's Flatrock discovery, nor the implications for the rest of its inventory," argues JPMorgan analyst Brian Kuzma, who has an 18 price target on the stock. He calls the pullback "an opportunity for investors willing to learn McMoRan's complicated story."

At 65, Valero Energy (VLO) fetches 7 times Bernstein's projected 2008 estimates, compared with the group's average of 10.6 times.

Sunoco (SUN), near 67, also is tied to the heating-oil market. Bernstein rates both Outperform -

Holly (HOC), which has slipped more than 40% since July. Holly has about $400 million in cash and no debt, and a recent deal to sell some pipeline assets will add about $171 million in cash -- increasing the odds that the Dallas company will buy back more shares.

Coach: Despite management guidance of "only" 20%-plus growth this quarter, the hundreds of people standing in line at midnight after Thanksgiving at the company's Woodbury Common outlet near New York suggest the handbag authority hasn't lost its touch. Coach stock has fallen 17% to around 36 from an April high of 54. When the holiday numbers are in, it could head higher.

Nordstrom: It stumbled in the warm fall weather, but Nordstrom remains a strong performer and a leader in accessories. These days, its shares sell for under 11 times expected fiscal '08 earnings of $3.15 a share, near the bottom of their historic range.

J.Crew: Chairman Mickey Drexler got his mojo back at this youthful pacesetter, after losing it at Gap. Earnings per share are expected to grow almost 25% in fiscal '08, ending January '09. The stock, which has fallen to 40 from 57 this year, trades for 22 times estimates of $1.82 a share.