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Is this is a good time to look for investment ideas outside of the U.S? Europe might be one market that is worth a look.

With this in mind, we created a list of high growth European stocks that may be considered undervalued by popular technical indicators.

To create the list below, we started with European stocks with market caps above $300 million for those with a PEG below 1 and P/E ratio below 15. Low P/Es are attractive because nobody wants to overpay for good growth -- although this number may indicate there is little growth at all.

So to make sure we're finding stocks with high growth expectations, we then screened for names with 5-year EPS growth projected at 15% or higher.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research. Analysts seem optimistic about the majority of the names in our list.

We were left with the eight names listed below.

As a recap, the stocks listed below have: EPS Growth next 5 years>15%, PEG <1, and P/E <15, a market cap above $300 million, and are based in Europe.

Do you think these names are currently undervalued? List sorted by PEG.

1. Intercontinental Hotels Group plc (NYSE:IHG): Owns, manages, franchises, and leases hotels and resorts. Market cap at $7.22B, most recent closing price at $26.80. PEG at 0.86, P/E at 12.88, and 5-year EPS growth at 15%. United Kingdom.

2. Navios Maritime Holdings Inc. (NYSE:NM): Operates as a seaborne shipping and logistics company in Greece. Market cap at $377.97M, most recent closing price at $3.69. PEG at 0.82, P/E at 13.18, and 5-year EPS growth at 16%. Greece.

3. Foster Wheeler AG (NASDAQ:FWLT): Provides construction and engineering services to oil and gas, oil refining, chemical/petrochemical, pharmaceutical, environmental, power generation, and power plant operation and maintenance industries worldwide. Market cap at $2.37B, most recent closing price at $22.35. PEG at 0.72, P/E at 14.42, and 5-year EPS growth at 20%. Switzerland.

4. Chicago Bridge & Iron Company N.V. (NYSE:CBI): Provides engineering, procurement, and construction (EPC) solutions, as well as process technologies for the energy infrastructure projects. Market cap at $3.93B, most recent closing price at $40.59. PEG at 0.75, P/E at 14.19, and 5-year EPS growth at 18.83%. Netherlands.

5. Delphi Automotive PLC (NYSE:DLPH): Manufactures vehicle components, as well as provides electrical and electronic, powertrain, safety, and thermal technology solutions for the automotive and commercial vehicle markets worldwide. Market cap at $10.64B, most recent closing price at $33.50. PEG at 0.49, P/E at 8.89, and 5-year EPS growth at 18%. United Kingdom.

6. AEGON N.V. (NYSE:AEG): Provides life insurance, pensions, and asset management products and services worldwide. Market cap at $11.32B, most recent closing price at $5.74. PEG at 0.48, P/E at 8.57, and 5-year EPS growth at 17.75%. Netherlands.

7. Ensco plc (NYSE:ESV): Provides offshore contract drilling services to the oil and gas industry. Market cap at $13.56B, most recent closing price at $58.39. PEG at 0.42, P/E at 11.47, and 5-year EPS growth at 27.6%. United Kingdom.

Source: 7 Undervalued European Stocks With Low P/E And High Earnings Growth