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The current financial downturn has caused consternation for many investors. However, it does have a good side - it has provided access to stocks that have been overvalued for some time. Below are several stocks that I previously rated weak or avoid (0-3 Stars), but based on their current share price (as of 10/20/2008 close), are now in the buy zone:

1. Caterpillar Inc. (NYSE:CAT)
Last Reviewed: 9/10/2008
Previous Rating: 2 Star-Weak
Current Rating: 4 Star-Buy
Buy Below Price: $43.22
Current Price: $40.90

2. Chevron Corporation (NYSE:CVX)
Last Reviewed: 8/20/2008
Previous Rating: 2 Star-Weak
Current Rating: 3 Star-Hold
Buy Below Price: $72.91
Current Price: $69.61

3. Johnson Controls (NYSE:JCI)
Last Reviewed: 9/23/2008
Previous Rating: 0 Star-Avoid
Current Rating: 3 Star-Hold
Buy Below Price: $23.84
Current Price: $18.92

4. Integrys Energy Group (NYSE:TEG)
Last Reviewed: 9/3/2008
Previous Rating: 3 Star-Hold
Current Rating: 4 Star-Buy
Buy Below Price: $49.95
Current Price: $46.78

Keep in mind, there are a lot of stocks out there that are still overvalued. If the downturn continues, we may gain access to them. As always, you should do your own research and reach your own conclusion before buying or selling any security.

Disclosure: No position in the aforementioned stocks.

Source: Four Stocks in the Buy Zone