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Cheap stocks to buy in the fourth quarter, according to HSBC

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Dow Jones Industrial Average,S&P 500 Index,General Motors Co

The Wall Street firm is highlighting some stocks that have 'less demanding' valuations that investors should consider buying moving into the fourth quarter.

It's officially a new trading month, and

recommends investors broaden their exposure in the fourth quarter by seeking out stocks with more reasonable valuations. September was another winning month for stocks, as the S & P 500 saw its fifth consecutive month in the green. On the final trading day of the month, the broad market index posted another record close, adding to the index's gains of more than 20% in 2024.

has a buy rating on the stock. In all, 16 of the 29 analysts covering GM have a strong buy or buy rating, and its average price target of $54.35 implies nearly 19% upside from Friday's close, per LSEG. Pharmaceutical giant Pfizer is another name that made the cut. The U.S.-based drugmaker's shares are down almost 1% this year. However, the stock is marginally higher in the past one month.

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