NEW YORK (Stockpickr) -- Through crisis comes opportunity -- and the mess in Europe surely qualifies as a crisis.

The key European stock indices continue to scrape along the bottom, and some of the most solid companies in the Continent have been dragged down in sympathy. As a result, many of these leading lights in Europe now trade at clear discounts to their U.S. rivals.

>>5 Big Stocks to Trade for End-of-Year Gains

Another reason to focus on these European stocks instead of their U.S. peers? The European crisis has caused the euro to steadily weaken over the last two months. Currency strategists expect the euro to bounce back when European leaders finally deliver a crisis-ending game plan. A rebounding euro would simply enhance the value of these foreign stocks -- in dollar terms.

Here are four ADRs (American depositary receipts) that may hold even greater value for long-term investors, as they should post an even stronger snapback than their U.S. rivals once Europe finally stabilizes.

ABB vs. GE

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The second half of 2011 has especially unkind to ABB ( ABB - Get Report), known as the "GE of Europe." That may be a misnomer; ABB actually has operations in dozens of countries across the globe. Since the end of June, its stock has slid 31%, compared with a 10% drop for GE ( GE - Get Report).

When you buy GE, you get exposure to aircraft engines, medical imaging devices, water treatment equipment and financial services along with the traditional power plant business. ABB focuses mostly in that last category: power plant gear such as turbines and transmission equipment. The good news: Demand for electricity keeps on rising no matter the economic climate, which is should fuel solid results for ABB over the next five years.

Despite the clear economic headwinds, this is an impressive profit-grower. Earnings per share are expected to jump 15% this year to $1.45, and analysts at Sterne Agee see EPS rising to $1.75 in 2012 and $2.15 in 2013. Shares trade for around eight times that 2013 projection. Shares likely have solid downside support at current levels, as the dividend yield has been pushed up to nearly 4% after this year's downdraft.

Look for ABB to augment organic growth with a series of tuck-in acquisitions. The company has about $1 billion in net cash and is comfortable turning that into a $5 billion net debt position. Translation: The company has $6 billion, along with any accumulated cash flow, to spend on deal-making.

ABB is one of TheStreet Ratings' top-rated scientific instrument stocks, while GE was highlighted recently in " 5 Stocks Fund Managers Hate for 2012.

BASF vs. DuPont

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Chemicals giant DuPont ( DD - Get Report), which shows up on a recnet list of 10 High-Quality Stocks for 2012, recently weighed in with news that fourth-quarter results should be weaker than expected. The company paired that news with expectations that the damage should be limited to a short period, and demand for chemicals should still be solid in 2012. Still, the damage was done, as shares fell from $48 in early December to a recent $43.

But it could be worse. You could have suffered even more damage as a shareholder of DuPont rival BASF (BASFY: Pink Sheets). That stock has fallen 35% since late April while shares of DuPont are off about 20% since then.

That more extreme selloff has left BASF as an even greater value play. Whereas DuPont trades for about 10 times projected 2012 profits, BASF trades for about 7 times forward profits. Notably, both of these companies sell chemicals and other industrial materials into a wide range of markets and are subject to the same input costs. So there's really no differentiation between the two businesses, except for those stock prices. Both Dupont and BASF can also boast of growing agricultural segments that should help support results in 2012.

As a final kicker, BASF trades for around 2 times book value while DuPont trades for 3.5 times book value. No matter how you slice it, BASF looks like the better deal.

Deutsche Bank vs. Wells Fargo

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Bank stocks in both the U.S. and Europe have been under pressure this year, though one could argue that the outlook for European banks in 2012 may be even more challenged that the outlook for U.S. rivals. Yet it's important to stay focused on the big picture. Deutsche Bank ( DB - Get Report) is still the best-run bank in Europe's most dynamic country, just as Wells Fargo ( WFC - Get Report) is here in the U.S. That's where the comparison ends.

Since the end of April, shares of Wells Fargo have slipped 13%, while Deutsche Bank's stock has fallen 45%. Nearly $30 billion worth of market value has been wiped out as Deutsche Bank gets pulled down by the European mess.

Meanwhile, many banks in Europe have suffered deep distress, and Deutsche Bank will have a chance to pick up market share while expanding its lending and banking efforts while beleaguered rivals need to hoard cash to survive.

Think shares of Wells Fargo are inexpensive at just 8 times projected 2012 profits? Well, Deutsche Bank trades for about 5.5 times projected 2012 profits. The gap likely accounts for the possibility that Deutsche Bank's profit goals may slip in the coming year if the European crisis deepens. But if that doesn't happen, then look for this stock to post a powerful snapback rally.

Deutsche Bank is one of Discovery Capital Management's top holdings as of the most recently reported quarter, while Wells Fargo shows up on a recent list of 5 Bank Stock Picks for 2012 by Goldman Sachs.

Volkswagen vs. Ford

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Shares of Ford ( F - Get Report) have had a tough summer and fall, but it's been even harder on Volkswagen's (VLKAY: Pink Sheets) stock. Since July 25, shares of Volkswagen are off 46%, while Ford's stock is off 28%. (Ford shows up on a recent list of 5 Worst Consumer Stocks That May Be Stars in 2012.)

These companies have more in common than you think. Each derives at least 25% of revenue from Europe, each has a major presence in Latin America, and each is aiming to take market share here in the U.S. on the heels of a very fresh product line-up. Volkswagen can even boast of a strong presence in the high-end of the auto market, thanks its Audi and Bentley divisions. (Ford's Lincoln division still struggles for relevance.) Volkswagen's new U.S. plant in Chattanooga, Tenn., should also aid in its efforts to lure customers that prefer to "buy American."

Lastly, shares of Volkswagen trade for less than 4 times projected 2012 profits, while Ford sports a slightly higher multiple -- around 6.


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At the time of publication, author had no positions in stocks mentioned.