There are a lot of 'table-pounding buys' in the market now: Value investor David Katz

  • Volatility has returned to the market and for value investor David Katz that means it's a prime opportunity to be an aggressive buyer.
  • "As a result of the sell-off over the last two months, there are a lot of table-pounding buys," he said.
  • One of those is drugmaker AbbieVie.

Volatility has returned to the market and for value investor David Katz that means it's a prime opportunity to be an aggressive buyer.

"Usually we like stocks and there are always things to buy. But as a result of the sell-off over the last two months, there are a lot of table-pounding buys," the chief investment officer at Matrix Asset Advisors told CNBC's "Power Lunch" on Thursday.

He expects stocks in general to move higher by year-end, and thinks right now the market is focusing on the negatives.

While equities surged on Thursday, they have been somewhat flat since the start of earnings season despite strong reports.

"We think the dust is going to settle and … then the market is going to focus on the fact that it was a wonderful earnings season," he said.

One of Katz's "table-pounding buys" is AbbVie, which on Thursday posted revenue that beat analysts' estimates. The drugmaker also raised its full-year earnings forecast.

His other names are Kimberly-Clark, Qualcomm, Goldman Sachs and Eaton.

Katz expects them all to be meaningfully higher by the end of the year.

Steve Massocca, managing director at Wedbush Securities, thinks the buying opportunity right now is in master limited partnerships.

MLPs are backed by physical assets, usually oil and gas pipelines, that generate revenue under long-term contracts.

"The oil patch is back, commodity prices have moved up and really MLPs haven't caught up yet," he said on "Power Lunch."

"You can hunt in that group and find great buys," Massocca said.

— CNBC's Brenda Hentschel and Bob Pisani contributed to this report.

Disclosure: Matrix clients and Katz and his family own AbbVie, Kimberly Clark, Qualcomm, Goldman Sachs and Eaton.

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