Here are billionaire Leon Cooperman's 5 favorite cheap stocks right now

  • "The market is in a zone of fair and full valuation. I see very few signs of exuberance," Cooperman said. "I predict oil will be higher in an year. I see the price of oil going to $60."
  • The hedge fund manager founded Omega Advisors in 1991. The firm has approximately $3.6 billion in assets under management.

Billionaire hedge fund manager Leon Cooperman recommended First Data, Shire, United Continental Holdings, Hess and WPX Energy at the Delivering Alpha conference on Tuesday.

On First Data: "The stock is very cheap," he said.

On Shire: "Investors have overly discounted concerns and ignored positive data."

On United Continental: "The airline's management has identified a lot of cost opportunities. I expect 15 percent earnings growth the next few years."

On Hess and WPX Energy: "The solution for low oil prices is low oil prices. Energy stocks seem overly discounted. These two picks have growing production profile and a net asset value well above current prices at existing oil prices."

At the conference, presented by CNBC and Institutional Investor, Cooperman also shared his view on the market and oil prices over the next year.

"The market is in a zone of fair and full valuation. I see very few signs of exuberance," he said. "I predict oil will be higher in an year. I see the price of oil going to $60."

Cooperman founded Omega Advisors in 1991. The firm has approximately $3.6 billion in assets under management, according to its website.

Previous Years

  • CNBC and Institutional Investor hosted the 7th Annual Delivering Alpha Conference on September 12, 2017.

  • Delivering Alpha 2017 stage, signage

    Meet the 2017 advisory board of Delivering Alpha, which takes place on September 12, 2017 at The Pierre in New York City.

  • The stage at Delivering Alpha 2016 in New York on Sept. 13, 2016.

    CNBC and Institutional Investor hosted the 6th Annual Delivering Alpha Conference on September 13, 2016.

About

CNBC and Institutional Investor are pleased to host the 8th Annual Delivering Alpha Conference in New York City on July 18, 2018. Please take note of the new month for 2018. Delivering Alpha continues to be an incomparable who’s who of the investor community with leading asset manager and institutional investors offering candid views along with illustrious political and economic commentators appearing in short segments moderated by CNBC talent and II editors.

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