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8 Stocks Under $8 With Upside

NEW YORK ( TheStreet) -- US Airways (LCC), MEMC Electronic Materials (WFR), Delta Air Lines (DAL - Get Report), Micron Technology (MU - Get Report), Amkor Technology (AMKR - Get Report), Advantage Oil & Gas (AAV - Get Report), Hecla Mining (HL - Get Report) and Gran Tierra Energy (GTE - Get Report) are expected to return an average of up to 65% over the next year. These eight stocks are mid-sized companies with market caps of around $3 billion and are trading at less than $8 a share.

Analysts expect these eight stocks to outperform their peers and broader markets, based on their respective 12-month price targets. These stocks were plucked from diverse sectors, such as energy, airlines, mining and semiconductor. Analysts' buy ratings are about 57%, estimating the stock has upside potential of 43% to 123%.

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The stocks are stacked in terms of upside, great to greatest.

8. Advantage Oil & Gas (AAV - Get Report) engages in the exploration and production of oil and natural gas at its Glacier property in Alberta, Canada.

The company reported first-quarter 2011 production of 24,775-barrel oil equivalent per day, increasing 19%, due to better-than-expected well performance at its Glacier property. Lower natural gas prices reduced operating cash flows to $40 million from $49 million in the same quarter the prior year.

Capital expenditure during the first quarter of 2011 amounted to $77 million and the majority of capital spending was made at Glacier. The phase 3 development program at Glacier was ahead of schedule, which augurs well for future drill inventory.

Management estimates production at around 23,500 boe/d for the second quarter of 2011. The stock has 43% upside over the next year with 67% analysts recommending a buy, as per a Bloomberg consensus.

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LCC $0.00 0.00%
WFR $0.00 0.00%
AAV $5.29 -0.75%
AMKR $5.58 -1.41%
DAL $41.75 0.77%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

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