These are the market's cheapest stocks with upside — including one expected to have a 90% comeback

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CNBC Pro screened for cheap stocks on the S&P 500 that analysts forecast having upside potential.

Although some investors are worried this year's strong market rally has made the S & P 500 expensive, value opportunities still remain.

Pro looked for well-liked stocks on the broad market index that are undervalued. The chosen names are trading at a significant discount to their average forward price-earnings ratio over the past five years. To weed out some names that may be cheap for a good reason, we made sure all the stocks on the list have growing earnings and are expected to have their per-share earnings rise at least 1% this year.

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