Thermo Fisher Scientific shares have been mostly flat during this rally. But the balance sheet is solid, and there is plenty of room for investors to rediscover the stock.

One of the most successful retailers in America, Target is a buy at 41. Ackman's plan to unlock the company's real-estate value may be a sell. While there may be merit in some of Ackman's arguments, Target remains one of the best-run retailers in the country. His proxy fight seems to have a lot to do with ego and has been a major distraction for management at an otherwise challenging time. Indeed, it seems time to buy Target shares, not Ackman's campaign.

The housing bust, among other worries, has held down Chemed stock in recent months. One analyst puts its upside more than 30% above recent levels within 12 to 18 months.

In last week's issue Barron's offered an upbeat assessment of Medtronic's (MDT) prospects ("Medtronic's Rx for Recovery," May 18), and we remain bullish. We were cheered that Medtronic managed to stabilize its market-share position in the latest quarter in implantable defibrillators, after a damaging voluntary product recall in 2007, and that revenue rose in the latest quarter across key business units, including cardiac-rhythm-disease management, spinal and biologics, cardiovascular, neuromodulation and diabetes. The stock has fallen 3.8% since our story, and Wall Street's fiscal "10 consensus estimate has been pared to $3.16. "While the downward pressure isn't surprising, it is overdone," says Tim Lee, an analyst at Piper Jaffray. He notes that management's 2010 earnings guidance incorporates probable dilution of six to seven cents a share from four recent acquisitions. "Consensus, including us, didn't fully appreciate the magnitude of the acquisition-related dilution," says Lee, who maintains a Buy on the stock, with a 12-month price target of 44. Even with its restrained outlook, Medtronic is cheap. The stock trades for about 10 times the midpoint of management's forecast -- and yields 2.3%.

Like the plumbing in one's home, the pension funds that corporations run for employees are rarely given much thought until they leak. Only when the plan is significantly under water and threatens earnings do investors take notice. If the stock market doesn't improve, that could happen later this year or next for big capital-goods makers, a group that includes such well-known names as Caterpillar (CAT), Ingersoll-Rand (IR), Brunswick (BC), Eaton (ETN) and Whirlpool (WHR).

The largest deteriorations in under funded pensions came at Ingersoll Rand, $854 million, due in part to its acquisition of Trane; and Eaton, $1.6 billion; as well as Caterpillar, $5.8 billion. At Caterpillar, the hurt came from a 70% equity allocation in its pension fund. Others have 55% to 60% allocations, and some below 50%, Regan notes.

The largest deteriorations in under funded pensions came at Ingersoll Rand, $854 million, due in part to its acquisition of Trane; and Eaton, $1.6 billion; as well as Caterpillar, $5.8 billion. At Caterpillar, the hurt came from a 70% equity allocation in its pension fund. Others have 55% to 60% allocations, and some below 50%, Regan notes.

The largest deteriorations in under funded pensions came at Ingersoll Rand, $854 million, due in part to its acquisition of Trane; and Eaton, $1.6 billion; as well as Caterpillar, $5.8 billion. At Caterpillar, the hurt came from a 70% equity allocation in its pension fund. Others have 55% to 60% allocations, and some below 50%, Regan notes.