Although some investors are worried this year's strong market rally has made the S & P 500 expensive, value opportunities still remain. CNBC Pro looked for well-liked stocks on the broad market index that are undervalued. The chosen names are trading at a significant discount to their average forward price-earnings ratio over the past five years. To weed out some names that may be cheap for a good reason, we made sure all the stocks on the list have growing earnings and are expected to have their per-share earnings rise at least 1% this year. What's more, at least 60% of analysts covering the following stocks rate them a buy and we filtered for shares whose consensus price targets imply at least 10% upside potential. Take a look at the list of Wall Street's favorite cheap stocks and where analysts see them headed next. SolarEdge shares are currently trading at nearly a 200% discount compared to their average forward price-to-earnings ratio over the past five years. The stock has tumbled more than 46% year to date amid a difficult period for the clean energy sector. By comparison, the iShares Global Clean Energy ETF (ICLN) fund has lost 32.6% in 2023. Nonetheless, more than two-thirds of analysts remain bullish on SolarEdge. JPMorgan and Citi have recently highlighted the stock as a promising value play, as they hold a positive long-term view on the residential solar energy market. Analysts estimate shares could pop 91.3% from Monday's close, according to FactSet data. Disney also made the list of stocks trading cheap to their historic levels. The media giant has made numerous headlines this year, including its just-ended blackout fight with cable company Charter Communications, slumping ad revenue and the Hollywood strikes. Wall Street has responded accordingly, with shares now trading at a 74% discount and down 3.4% year to date. However, analysts believe the stock could rally more than 30% from Monday's close. Bank of America reiterated its buy rating on Disney after its agreement with Charter Communications on Monday. " DIS+ is in the very early days on their ad-supported streaming launch, so there is limited subscriber overlap within both customer bases. Therefore, this wholesale agreement with CHTR can be an effective way to scale DIS+ distribution," the firm said in a Tuesday note.