Because of the recent market turmoil, usually pricey T. Rowe Price shares look like a good deal. The Baltimore asset manager's upside is at least 10% over the next 12 months.

With a pristine balance sheet and impressive holdings of cash and short-term investments, Accenture may be worth somewhere in the high 40's, or 20% above its recent price.

Brown Shoe's stock has fallen about 40% in the past 12 months to a recent 14.93, or just 10.7 times future earnings. Renewed growth in profits could help lift the stock to 20.

Last week's nod from the Texas Utility Commission is good news for Trinity Industries (TRN), which has a small unit making wind towers. Trinity also makes everything from railcars to barges, and fading railcar demand had sent shares down 27% over the past year.When the Dallas company reports earnings July 30, expect to hear about how surging raw materials and economic deceleration have affected margins. After all, the CEO of a rival company recently bemoaned how everything railcar-related -- from pricing to demand -- "stinks." But Trinity's cyclical rail business is moderated by a growing leasing and management-services unit, and downside risk is offset by the wind boom. Trinity's wind-energy backlog had surged 128% to nearly $1.6 billion in the first quarter, and its valuation should continue to expand with that backlog. At 35, shares trade at 10.8 times 2008 earnings and 1.6 times book value, compared with 12.1 times earnings and 4.1 times book for other machinery stocks -- chiefly as investors fret about slowing railcars. "We believe investors should focus on Trinity's diversification and wind-energy catalysts," notes KeyBanc analyst Steve Barger, who has a 48 price target on the stock.

The stocks ticked up modestly with the crude correction, but not enough to suggest that many investors care that Valero trades a six times depressed earnings and 30% of replacement value. Going unnoticed, aside from its cheapness is the recent strength in heating oil and diesel margins, and Valero's advantaged ability to process sour-grade oils -- not to mention management's shrewd capital-allocation and asset-shuffling moves. A further drop in crude would be a help to the refinery stocks, but it's possible that even sideways action in crude would help crack through the gloom pervading the group.

When it becomes clear that Porsche won't buy all of VW, the takeover premium will deflate, and the stock could drop by 30% or more, says Georg Thilenius, principal of Thilenius Management. "There is no reason VW should trade considerably higher than the rest." If you strip out all of their non-automotive units, VW's market value is more than that of Daimler, Fiat, Renault and Peugeot combined. When the smoke clears, VW's shares are likely to drop. D'oh!

Posco stock surged after Berkshire Hathaway (BRK/A) bought in, but it has taken a beating lately. It's down more than 30%, to 488,000 Korean won ($482), from its peak last November, and is selling at 9.3 times this year's estimated earnings and 8.3 times 2009's, with a 2.4% dividend yield. Hyundai Securities has a Buy rating on the shares, and a 12-month price target of KRW788,000. Nomura's Park has a Sell, owing to higher material costs and sluggish demand in the near term. But the long term looks much brighter.

Glen Yeung, Citigroup's semiconductor analyst, is taking a Falstaffian approach to the group, advising discretion and selectivity over heroics, noting that trends are "decent" in the group but hardly robust. His favorites are Intel (ticker: INTC) and Texas Instruments (TXN), which are trading just above trough valuations, and Altera (ALTR).