With the stock market’s new quarter off to a tepid start so far, CNBC Pro has ideas for investors looking for value. The S&P 500 index has faltered this week, retreating after posting its best first quarter since 2019. That has left investors wondering whether the market might be ready for some consolidation after large-cap stocks pushed the broad index rising in the five months following the end of the year. October. Given the rise in momentum stocks and concerns about a second-quarter pullback, CNBC Pro selected names with cheap valuations that could offer value. To find these names, CNBC Pro selected the following criteria: forward and trailing price-earnings multiples both below 12. By comparison, the SPDR S&P 500 ETF Trust (SPY) currently sells for 25.8 times earnings, according to FactSet. Earnings growth over the past year. Stocks that are higher this year, to exclude those whose P/E multiples are low only because the stock price has fallen. CNBC Pro subscribers can view the screen here. Here are the 13 stocks on the list: General Motors made the list, with both multiples below seven. The stock has risen more than 25% this year, posting earnings growth of more than 19%. Even though GM traded at its highest since March 2022 on Thursday, analysts see even more upside ahead. The average analyst surveyed by LSEG has a buy rating and a price target that implies further upside of more than 10%. Citi analyst Itay Michaeli is even more optimistic. He recently called GM a top pick with a $95 price target, reflecting the potential for the stock to rise more than 110%. “As the first quarter concludes, it has become clearer that GM will likely post another resilient quarter,” Michaeli wrote to clients Wednesday. “While industry headwinds and execution risks persist, the now 5+ year-old suppression that GM’s last strong quarter/year will be its last appears increasingly stale.” Delta and United airlines are also on the list. While both are higher in 2024, only the former has outperformed the broader market. .SPX DAL,UAL YTD mountain The S&P 500 compared to Delta and United Delta has seen earnings growth of more than 240% over the past year, and both the trailing and forward P/E ratios are near seven. According to LSEG, the average analyst has a Buy rating and a price target that implies a rally of more than 17% over the next year. United, meanwhile, have lower multiples despite recording growth above 250%. After underperforming the market this year, analysts see big gains ahead. The consensus rating among analysts surveyed by LSEG is Buy, with an average price target implying an upside of more than 42%.