Barron’s hunted for stocks in the S&P 500 that exhibit characteristics of value stocks —namely, they still look cheap — but that have the growth attributes of faster-than average forecasted profit gains.

"Growth stocks are most simply defined as those that are expected to increase their earnings or revenues at a faster rate than the rest of the market. Value stocks are those that trade at a discount to the market on various fundamental measures," Barron's explained.

There are 191 companies in the index that trade for less than 15 times forward earnings estimates. Of those, 83 have grown their earnings per share by at least 10% annually over the past five years.

However, Barron's said just the 15 stocks below are expected to match that growth rate over the next half-decade:

1. AbbVie (ABBV)
2. Albemarle (ALB)
3. Alexion Pharmaceuticals (ALXN)
4. Applied Materials (AMAT)
5. Ameriprise Financial (AMP)
6. Anthem (ANTM)
7. Broadcom (AVGO)
8. Bristol-Myers Squibb (BMY)
9. CBRE Group (CBRE)
10. Cigna (CI)
11. Centene (CNC)
12. Cabot Oil & Gas (COG)
13. Fifth Third Bancorp (FITB)
14. Lam Research (LRCX) 
15. Universal Health Services (UHS)

However, investors are advised to step carefully when making any moves in such a volatile market.

For example, this week’s rotation away from 2020’s top performers into more beaten-down shares is a poor sign for U.S. equity performance ahead, according to BTIG LLC.

Financials performed best among 11 sectors in the S&P 500 Index so far this week, gaining 7.9% in the four sessions, while information technology and communications services are the laggards, Bloomberg explained.

That’s a reversal in fortunes from earlier this year. The Russell 1000 Value Index has outperformed the Growth gauge by more than 3 percentage points this week, paring some of the 20 percentage-point underperformance during 2020.

The move “has a frantic feel to it,” wrote Julian Emanuel, BTIG’s chief equity and derivative strategist. While financial shares can keep rallying, the broader market more often than not declines over the medium term after such a huge divergence in performance, he said his study going back to 1990 showed.

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