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Wide-Moat Values Still Available

The stock market runup has left U.S. equities as a whole fully valued, but some undervalued quality names remain.

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The last few weeks have brought good news for most stock investors' portfolios. Relief over progress being made to stem the European debt crisis and the specter of another round of stimulus from the Federal Reserve has helped keep stocks on their impressive streak. The broad-based Morningstar U.S. Market index is up nearly 8.5% during the last 13 weeks.

Given this runup in prices and the continued macroeconomic uncertainty, it is natural to wonder if there are any opportunities left in the marketplace. Certainly the U.S. market as a whole isn't cheap anymore. The median/price to fair value of stocks rated by Morningstar stands at 0.95, essentially fairly valued. 

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Jeremy Glaser has a position in the following securities mentioned above: MSFT. Find out about Morningstar’s editorial policies.