10 Ridiculously Cheap Stocks to Buy Right Now

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1. Prudential plc (NYSE:PUK)

Analyst Upside as of November 25, 2024: 87%

Forward P/E as of November 25, 2024: 7.63

Market Capitalization as of November 25, 2024: $21.4 Billion

Prudential plc (NYSE:PUK) ranks first on our list of the 10 ridiculously cheap stocks to buy right now. The multinational insurance and asset management company is headquartered in the United Kingdom and Hong Kong. The company caters to more than 18 million customers across 24 markets in Asia and Africa.

Prudential plc’s (NYSE:PUK) position on our list can be attributed to its expansion strategy. Earlier in September, the company initiated investments in Nigeria. Under the investment, the company agreed to acquire the remaining shares of its joint venture in Nigeria, Prudential Zenith Life Insurance Limited. On the same day, the company announced its strategic partnership with Bank Syariah Indonesia. Under the partnership, the company will function as the life insurance provider of the bank starting in early 2025. The two strategic moves not only expand PUK’s position in the respective regions but also level up its penetration into bancassurance.

More recently, on November 19, the company launched a global artificial intelligence lab in Singapore. The lab aims to accelerate the integration of artificial intelligence, generative artificial intelligence, and machine learning across all levels of the organization. Since the soft launch of the lab in August, Prudential (NYSE:PUK) has orchestrated over 100 AI use cases across its 24 markets in Asia and Africa.

According to the company’s Q3 performance update, Prudential plc (NYSE:PUK) saw an increased momentum in its business performance. The company attributes the growth in business profits to its multi-channel distribution model. The company expects to strengthen its distribution network and drive greater quality.

While we acknowledge the potential of PUK to grow, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PUK but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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