Wall Street's favorite value stocks include a media giant that could surge 55%

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This year's tumble in stocks has led many on Wall Street to look at a previously underappreciated part of the market: value.

Value stocks are those names that typically trade at a low multiple relative to the broader market and have stable fundamentals. In recent years, investors had been shunning value names in favor of their growth counterparts — those with high growth expectations relative to the broader market. Over the past five years, the SPDR Portfolio S & P 500 Growth ETF is up 87%, while the value-oriented SPYV fund has risen just 37% in that time.

Topping the list in terms of potential upside is Dish Network , with analysts on average expecting the stock to rally nearly 78% from current levels, FactSet data show. Roughly 53% of analysts covering the stock rate it a buy. To be sure, the stock has struggled this year, dropping 40%. Another stock that made our list is News Corp . Two-thirds of analysts covering the media company rate it a buy, with the average price target implying upside of 55% from current levels.

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