Three Stocks That Are Still Bargains (HCBK, FEED, AA)

As the Dow again flirts with 11,000 and seems to slowly "melt up" day after day, you may be wondering if there are any bargains left to be had. Well, I've found three stocks that still look attractive based on valuation and offer solid fundamentals.

Hudson City Bancorp (NASDAQ: HCBK) is the largest bank in the country to not take government TARP funds. Shares of this New Jersey bank are up only 3.85% so far this year and trade at just 10.70 times 2011 earnings estimates. The company offers a dividend of 60 cents, which at today's closing price of $14.13 yields 4.25% annually. Hudson is set to report earnings on April 21 and may announce a dividend increase since it's been four quarters since their last increase.

AgFeed Industries (NASDAQ: FEED) is a Chinese company that specializes in hog production and animal feed. In 2009 revenues rose 20% to $173.2 million. The chinese are the world's largest consumer of pork and park consumption accounts for 63% of the meat consumed in China. Meat demand is a secular growth story in China as the country's 250 million middle class grows due to urbanization.

The company has a pristine balance sheet with $36 million in cash and $5.3 million in debt. The company's current ratio is 5.51 and book value is $3.98 per share. The current consenus price target on AgFeed is $7.00, implying 56% upside from today's closing price of $4.49.

Alcoa Inc. (NYSE: AA) has struggled to find its footing in 2010 with shares still down over 11%, compared to a 4% gain for the Dow. The company trades at 12.48 times 2011 earnings estimates of $1.18 per share. Today Deutsch Bank downgraded Alcoa to Hold, but still kept a price target of $18. At today's closing price of $14.73, Deutsch Bank's price target represents 22% in potential upside. Alcoa will surely benefit from a global recovery as the price of aluminum recovers to pre-crisis levels.

So, if you are worried the rally has made stocks too expensive, here are a few names that you may want to look into. A rising tide lifts all boats, but not necessarily all at once.