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If you are an equity investor looking for stocks trading at attractive levels and generating significant amounts of cash, the following list might provide you with an interesting staring point for your own analysis.

To compile this list, we started with a universe of about 50 stocks trading 0-10% above the 52-week low. We then collected data on levered free cash flow, and identified the companies that had significant levels levered free cash flow when compared to its current market cap. (Note: Levered free cash flow is the free cash flow available to the company after paying interest on outstanding debt. It is a measure of the cash flow that is truly available to the company).



Having this information in mind, which of these companies do you find to be more attractively priced? Full details below.

1. American National Insurance Co. (NASDAQ:ANAT)
: Life Insurance Industry. Market cap of $2.11B. The stock is currently trading 9.0% above the 52-week low. TTM levered free cashflow at $747.96M, which represents about 35.42% of the company's current market cap. The stock has lost 28.48% over the last year.

2. Fairpoint Communications, Inc. (NASDAQ:FRP):
Telecom Services Industry. Market cap of $443.96M. The stock is currently trading 6.44% above the 52-week low. TTM levered free cashflow at $121.72M, which represents about 27.42% of the company's current market cap. The stock is currently stuck in a downtrend, trading -7.94% below its SMA20, -21.07% below its SMA50, and -21.07% below its SMA200. The stock has performed poorly over the last month, losing 25.55%.

3. AOL, Inc. (NYSE:AOL): Internet Information Providers Industry. Market cap of $2.14B. The stock is currently trading 8.32% above the 52-week low. TTM levered free cashflow at $379.31M, which represents about 17.73% of the company's current market cap. The stock is a short squeeze candidate, with a short float at 11.67% (equivalent to 8.73 days of average volume). The stock has lost 27.08% over the last year.

4. Excel Maritime Carriers, Ltd. (NYSE:EXM)
: Shipping Industry. Market cap of $362.65M. The stock is currently trading 8.66% above the 52-week low. TTM levered free cashflow at $57.23M, which represents about 15.78% of the company's current market cap. This is a risky stock that is significantly more volatile than the overall market (beta = 2.9). The stock has performed poorly over the last month, losing 10.13%.

5. EarthLink Inc. (NASDAQ:ELNK): Internet Service Providers Industry. Market cap of $863.63M. The stock is currently trading 5.31% above the 52-week low. TTM levered free cashflow at $125.95M, which represents about 14.58% of the company's current market cap. The stock is a short squeeze candidate, with a short float at 8.87% (equivalent to 5.07 days of average volume). The stock has lost 1.97% over the last year.

6. Target Corp. (NYSE:TGT): Discount, Variety Stores Industry. Market cap of $35.17B. The stock is currently trading 7.17% above the 52-week low. TTM levered free cashflow at $3.81B, which represents about 10.83% of the company's current market cap. The stock has lost 4.43% over the last year.

7. Net 1 Ueps Technologies Inc. (NASDAQ:UEPS): Business Services Industry. Market cap of $394.83M. The stock is currently trading 4.13% above the 52-week low. TTM levered free cashflow at $41.46M, which represents about 10.5% of the company's current market cap. The stock has performed poorly over the last month, losing 10.16%.

8. Tellabs Inc. (NASDAQ:TLAB): Communication Equipment Industry. Market cap of $1.90B. The stock is currently trading 9.45% above the 52-week low. TTM levered free cashflow at $204.90M, which represents about 10.8% of the company's current market cap. Relatively low correlation to the market (beta = 0.71), which may be appealing to risk averse investors. The stock has lost 33.55% over the last year.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: Rebound Ideas: 8 Stocks Near Lows, Generating Significant Free Cash Flow