NEW YORK ( TheStreet) -- Are there undervalued stocks out there? TheStreet's Gregg Greenberg talked with James Barksdale, portfolio manager for the EIC Value Fund, about some that could be worth the investment.

Tech giant Microsoft ( MSFT) could be considered undervalued, despite its recent run into the mid-$30 range, Barksdale pointed out. It's a stock that people have "loved to hate" in the past, he noted.

Wells Fargo ( WFC), a Warren Buffett favorite, has a 3% dividend yield and is profiting from a rebounding housing market, so it could be a great pick for many investors .

Barksdale added that the bank has an excellent management team and is rather conservative, keeping derivatives off its balance sheet, unlike most banks. At just 12 times earnings, the stock also seems somewhat undervalued.

Finally, despite the large run health care stocks have seen this year, C.R. Bard ( BCR) is one of his picks.

While admitting he's unsure about the short-term movement, Barksdale is confident this company will be a winner over the long haul. While there may be some headwinds over the next year, this company has proved to be managed well.

"Long term, they've known how to reinvest capital and continue to grow," he concluded.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Rocco Pendola's Weekly Options Newsletter. Focuses on short- to intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.