Besides looking for stocks that don't cost an arm and a leg, savvy investors use many tricks to find bargains among the market's many offerings. One way to do so is to consider a company's target price as set by independent analysts. [Read more from Kapitall: Consumer Prices Rose But Shoppers Always Stop At The Drugstore] To generate this list we began by searching for stocks that are trading at significant discounts to their fair value based on analyst target price, with the assumption that they will move up to their fair value in the near future. We only included stocks with five or more analyst ratings. And because analyst prices are notoriously inflated, we compared current price to the lowest target. Besides screening for rock bottom prices, we also wanted to find signs of undervaluation, so we considered the Price to Earnings (P/E) data among our results. We limited our remaining universe to those companies with a Price/Earnings to Growth – PEG – ratio below 1, a common indication of undervaluation based on earnings performance. PEG = P/E / Annual EPS Growth With seven stocks remaining in our results, we looked closer at the difference between their P/E and Forward P/E ratios. Five of the seven companies had Forward P/E ratios below their P/E ratio, which would normally suggest that earnings are expected to grow in the near future. So we were left with five stocks trading below their expected price targets, with attractive price to earnings figures. The ListAnalyze These Ideas: Compare analyst ratings to annual returns for stocks mentioned.Click on the image below to see analyst ratings over time. Average analyst ratings sourced from Zacks Investment Research.Do you think these stocks will rise to their target prices? Use the list below as a starting point for your own analysis.1. CAI International Inc. (CAP): Engages in the intermodal marine cargo container leasing business worldwide. Market cap at $510.38M, most recent closing price at $23.11. Of the 8 analysts that have set a target price on the stock, the lowest price target stands at $23.7. This implies a potential upside of 26.59% from current levels around $30.