With double-digit earnings growth, a robust balance sheet and strong R&D efforts under way, Baxter could see its shares climb by nearly 20%, to 65, by year's end.

While Unum has now reported profits for two years in a row, it is still too early to jump in. A better plan: Let the company prove itself for two more years, then consider the stock.

Dell's shares have been cut to 8.53 from a high of about 50. If the company can execute on a turnaround plan, its stock could rebound to 20. But the comeback won't come quickly.

Stericycle shares, which have been trading in the mid- to upper-40s lately, look as if they could climb back toward last year's high of 66 within two years.

For those interested in playing the absolute natural-gas price, the U.S. Natural Gas (UNG) exchange-traded fund -- which bounced smartly off a 52-week low Friday -- is handy. Battered stocks levered to the market include old Barron's favorite Pioneer Natural Resources (PXD), and an ETF of natural-gas stocks, the First Trust ISE-Revere Natural Gas fund (FCG).

For those interested in playing the absolute natural-gas price, the U.S. Natural Gas (UNG) exchange-traded fund -- which bounced smartly off a 52-week low Friday -- is handy. Battered stocks levered to the market include old Barron's favorite Pioneer Natural Resources (PXD), and an ETF of natural-gas stocks, the First Trust ISE-Revere Natural Gas fund (FCG).

For those interested in playing the absolute natural-gas price, the U.S. Natural Gas (UNG) exchange-traded fund -- which bounced smartly off a 52-week low Friday -- is handy. Battered stocks levered to the market include old Barron's favorite Pioneer Natural Resources (PXD), and an ETF of natural-gas stocks, the First Trust ISE-Revere Natural Gas fund (FCG).

CEOs of other Big Pharma companies have, no doubt, noticed this -- which isn't to say that there won't be M&A activity in the sector, or that the stocks seem destined to do any worse than the broad market here. Deal activity, though, might be skewed more toward smaller biotech purchases, and the focus returned to drug-research efficiency. The latter trend, should it take hold, would likely work to the benefit of the clinical-research outsourcers such as Covance (CVD) and Kendle International (KNDL), former expensive growth-stock favorites that have found themselves rather inexpensive in the market rout.