From Michael Santoli's Streetwise column. Cendant spun off some companies that were quickly acquired. But people have forgotten about Avis Budget Group according to Santoli. He think they are a turnaround story with good, new management. "Getting margins up to their five-year average would mean a doubling of earnings to more than $2 a share in 2008, from 99 cents last year. That would make the Avis stock a bargain at today's 24 -- also the price at which management's long-term equity incentives are struck." "

Barrons spoke to Robert Olstein from the Olstein All-Cap Value Fund. Olstein has been buying GPS around $19.50. He wants them to shut down underperforming stars. He thinks they can generate $1.50 a share in free cash flow, a 50% increase in their current $1 a share. His target is $27 in 12 to 18 months.

ABY fell, in part, because timber prices fell due to the housing slowdown. Barrons spoke with John Schneider of Touchstone Large Cap Value Fund. He thinks that the company will benefit from the fact that the Canadian dollar has probably bottomed. He also thinks that worries about newspapers are overdone (ABY makes newspring). He thinks ABY could be worth double today's price.

From the international trader column. Barrons thinks shares of ALU have been sold off too harshly. The company hasn't had a chance to really integrate its acquisitions yet. But they plan to cut costs and US telecom operators should start spending in 2007 again.

David Adelman, a tobacco analyst at Morgan Stanley, does a sum of the parts analysis of MO once they spin out their Kraft stake to shareholders. He thinks the company is worth $107. He also thinks MO is very underleveraged with only $2bb in debt and $14bb in cash flow.

Barrons thinks people are overly worried about the decline in oil prices and are negecting DO's steady but higher-than-average dividend yield. ""Diamond Offshore bubbled up on our screens [as a driller] positioned to do well in the future," says John Coulter, a portfolio manager at Thompson/Rubinstein Investment Management. "Longer range, we see a shortage of oil, and the major oil companies and oil-producing countries are spending money to drill and find more oil.""