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11 top rated stocks get spanked hard

A pedestrian passes by a Michael Kors retail store in New York.
Scott Mlyn | CNBC
A pedestrian passes by a Michael Kors retail store in New York.

The market's sudden downdraft is spanking some stocks very hard—which could make them even more attractive.

There are 11 stocks in the Standard & Poor's 500, including airline Delta Air Lines (DAL), aluminum maker Alcoa (AA) and apparel designer Michael Kors (KORS) that are getting paddled by the cranky stock market, even though analysts see great upside and earnings are expected to grow this year, according to a USA TODAY analysis of data from S&P Capital IQ.

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These are the stocks that have seen their prices drop 10% or more from their 52-week highs—putting them in correction territory—as well as falling 10% this year. But despite the drubbing they're getting, each of these stocks is rated "buy" on average by Wall Street analysts and are expected to be worth at least 15% more in 18 months than they are now. Additionally, all these companies are expected to deliver at least 10% adjusted earnings growth in 2015.

Delta Air Lines is a great example of a stock that investors loved—that now the feelings have nosedived. Shares of the soared 79% in 2014 as investors saw the airline scoring from low oil prices and full planes. But this year, the stock is down 15% from the 52-week high—putting the high-flier into the correction zone. Even so, analysts see lots of upside, calling for shares to be worth 48.7% more in 18 months. Delta closed at $43.42 a share on Tuesday. And get this—for a stock down this much this year – earnings are expected to rise 46% this year.

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Alcoa is another stock that was going like gangbusters until this year. The stock rocketed 49% in 2014 as the company blew away adjusted earnings forecasts in all four quarters of the year. But investors are now being repelled from the metal stock. Shares are down 24% from the 52-week high including 15% just this year. That leaves a stock with nearly 40% upside before hitting the 18-month price target. And analysts see earnings growing nearly 25% this year.

Could the stocks be more accurate than the analysts'? Sure, and that's happened before. But if the market's selloff is fleeting—and these stocks are just being swept up in it—investors paying attention might find some prizes among the punished.

BUY-RATED S&P 500 STOCKS THAT ARE DOWN 10% OR MORE FROM THEIR 52-WEEK HIGHS, BUT EXPECTED TO RISE 15% OR MORE IN THE NEXT 18 MONTHS AND POST HIGHER PROFIT IN 2015

Company Symbol Year-to-date % ch. % Ch. from 52-week high % upside to 18-mo. target
Genworth Fin GNW -15.9% -61.8% 57%
Delta Air Lines DAL -11.7% -15% 49%
Micron Tech. MU -21.1% -24.5% 47.6%
Alcoa AA -14.5% -23.9% 39.6%
NRG Energy NRG -13.2% -38.6% 38.1%
Michael Kors KORS -13.8% -34.9% 34.1%
United Rentals URI -14.7% -27.4% 29%
AbbVie ABBV -14.7% -21.1% 23.7%
Tiffany TIF -21.9% -24.6% 21.5%
Bank of America BAC -11.7% -13.3% 16.7%
Navient NAVI -10.4% -27.2% 16.2%