Discover is poised to grab market share in the U.S. and abroad, reaping big economies of scale. And in a takeover, the company might go for 30% or more than today's stock prices.

Information-technology outsourcer Cognizant's shares are a bargain at a price-to-earnings ratio of 19. The upside could be more than 60% as the economy recovers.

Schnitzer's stock has retraced its first-half gain, and now trades for $58. A stronger global economy could send the shares to the mid-70s; a takeover, to more than $100.

Shares of Precision Castparts (PCP), which makes high-tech airfoil castings for jet engines, turbines and other aerospace products, have crashed along with those of its customers, like Boeing (BA) and the airlines. The bear market, crude prices and production snafus at Europe's Airbus and Boeing -- facing an imminent strike -- have combined to send Precision stock to about 98 from a high of 160 last fall. That 40% drop looks overdone in view of the company's long-term prospects, says Alexander Roepers, president of Atlantic Investment Management. Atlantic is one of Precision Castpart's largest holders, and the stock is one of Atlantic's biggest positions. "We've continued to purchase" during the downdraft, Roepers reports. Atlantic owns about 3.6 million shares.

The screen has uncovered several banks whose stocks are either down or broadly flat from 2007 highs, down in the general crash of financials but not out. They aren't completely undiscovered but could provide a good hiding place for investors who want or need exposure to financials. Among them is First Niagara Financial Group (FNFG), a $1.6 billion-market-cap provider of commercial and retail banking services across upstate New York, with a 3.7% dividend yield. People's United (PBCT), the focus of a positive Barron's story recently ("The People's Choice," Aug. 25), has a decent balance sheet and diversified business in Connecticut and a 3.3% dividend yield, Kovacs notes.

BancorpSouth (BXS), Hancock Holding (HBHC), and First Financial Bankshares (FFIN) also turned up. All five stocks have relatively high price/earnings valuations, probably because there are enough investors that believe they will survive. The banks generally offer steady, if pedestrian, growth. These days there are many banks that wish they had pedestrian growth.

BancorpSouth (BXS), Hancock Holding (HBHC), and First Financial Bankshares (FFIN) also turned up. All five stocks have relatively high price/earnings valuations, probably because there are enough investors that believe they will survive. The banks generally offer steady, if pedestrian, growth. These days there are many banks that wish they had pedestrian growth.

BancorpSouth (BXS), Hancock Holding (HBHC), and First Financial Bankshares (FFIN) also turned up. All five stocks have relatively high price/earnings valuations, probably because there are enough investors that believe they will survive. The banks generally offer steady, if pedestrian, growth. These days there are many banks that wish they had pedestrian growth.