10 Value Plays Quietly Positioning for Up to 50% Upside in 2025

• Uber and Micron delivered strong gains with +53% and +17% returns year-to-date.
• Several stocks remain undervalued with upside potential above 25% based on fair value.
• Merck, First Solar, and AMD stand out as top picks for gains in 2025.
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Late last year, I shared 10 stocks, including five in this article, that analysts rated as "Strong Buys" based on their value, momentum, growth potential, and industry trends. Now that 2025 is in full swing, it is time to review: which stocks have already delivered returns, and which ones are still flying under the radar but might surprise us by the end of the year?

Based on the latest data, only 2 out of the 10 stocks have delivered positive returns since the start of the year.

• Uber Technologies Inc: +53,3%

• Micron Technology Inc: +17,4%

The rest are still trading below their early January levels. Some, like Merck (NSE:PROR) with a -21.7% drop, are feeling the impact of sector-wide pressure, while others are going through periods of technical consolidation. However, earnings forecasts and fair value estimates suggest there could be more to come.

Stocks That Have Already Shone (but are not necessarily done):

• Uber led the way in the first half of the year, driven by strong revenue growth, progress in autonomous vehicles, and a sharper focus on retail.

• Micron rode the wave of AI enthusiasm and continues to show strong earnings growth potential.

Stocks That Can Surprise in the 2nd Half of 2025:

• Merck & Company Inc has the highest upside on fair value (+45.5%) and is still undervalued.

• First Solar Inc, Coterra Energy Inc, and Advanced Micro Devices Inc offer a mix of attractive valuations and strong growth outlook.

• Eli Lilly and Company remains a leading pharma stock, worth watching for a possible re-entry on any pullback.

Analysis of the 10 Stocks:

1. Micron Technology Inc

Micron is the perfect example of how the market does not always price growth right away. With an estimated +912% EPS growth in 2025, the stock is riding the AI boom and demand for HBM (High Bandwidth (NASDAQ:BAND) Memory).

• Price: $98.09 - YTD: +17.4% - Upside PV: +15.8%

• Personal Note: Buy on weakness - great entry into pullbacks, strong potential.

2. First Solar Inc

The green sector has lost momentum, but First Solar has solid fundamentals and one of the highest upside in the group (+30%). Goldman Sachs lists it among top picks.

• Price: $165.80 - YTD: -6.4% - PV upside: +30%.

• Personal note: Opportunistic buy - undervalued and ready to rally.

3. Advanced Micro Devices Inc

AMD is a pure bet on AI. It has EPS growth estimates at +293.4%, with guidance between $7-9B in 2025. The stock is still in negative territory, but the fundamentals are worth watching.

• Price: $114.74 - YTD: -5.0% - Upside PV: +52.3%.

• Personal note: Selective buy - excellent AI outlook, but to be managed patiently.

4. Schlumberger NV

Oil services giant Schlumberger NV (NYSE:SLB) suffers short-term weakness, but remains undervalued with P/E fwd of 10.8x and upside of 17.7%.

• Price: $34.76 - YTD: -7.8% - EPS Growth: +4.8%.

• Personal Note: To be monitored - I await signs of strength from the energy cycle.

5. Coterra Energy Inc

Pure "value" stock Coterra Energy, with P/E fwd below 10x and EPS Growth estimated at +81.5%. The 27.5% upside makes it attractive for those seeking yield and stability in the energy sector.

• Price: $24.50 - YTD: -2.4% - PV upside: +27.5%.

• Personal Note: Buy cautious - defensive and solid from a medium-term perspective.

6. Merck & Company Inc

The absolute most undervalued stock in the group is Merck & Company Inc: -21.7% since start of year, but +45.5% estimated upside. Excellent dividend and solid pipeline, but dependence on Keytruda weighs.

• Price: $77.55 - P/E fwd: 8.5x

• Personal note: Buy for value - limited risk, high potential.

7. Uber Technologies Inc

At +53.3% YTD, Uber has already run strong. Strong in fundamentals, but upside on fair value is now negative (-5.4%), imposing caution.

• Price: $93.49 - EPS Growth 2025: -21.9%.

• Personal Note: Buy on strength - excellent momentum stock, but to be managed with trailing stop.

8. Constellation Brands Inc Class A

Despite Berkshire Hathaway’s (NYSE:BRKa) support, Constellation Brands (NYSE:STZ) is still down YTD (-11.7%), with modest upside (1.8%). EPS is expected to recover, but margins under pressure.

• Price: $194.44 - EPS estimate: +2896.9% (recovery post weakness)

• Personal note: Avoid for now - better to wait for clearer signals.

9. Alphabet

Alphabet Inc Class A (NASDAQ:GOOGL) remains one of my favorite "defensive" tech stocks. P/E fwd of 17.4x, interesting upside, with focus on evolving AI.

• Price: $167.13 - YTD: -11.9% - FV upside: +11.6%.

• Personal note: Gradual buy - great to accumulate in declines.

10. Eli Lilly and Company

Eli Lilly and Company is one of the pharma stocks with the strongest expected EPS growth (+86%), driven by obesity and diabetes drugs. However, the price is already pulled, with negative upside (-3.8%).

• Price: $758 - YTD: -1.8%

• Personal Note: Buy on weakness - great long-term stock, but entering at highs is risky.

The first half of 2025 spotlighted two leaders, Uber and Micron, but the real opportunity might lie in stocks that have fallen behind yet have strong fundamentals and attractive valuations.

My "Top picks" to Monitor for the 2nd Half of 2025:

• Merck - maximum upside, ideal defensive

• First Solar - undervalued green

• AMD - AI potential yet to be expressed

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