These 12 cheap global stocks are expected to rally — and analysts love them

Stocks around the world have sold off this year on recession fears and soaring inflation — and now are looking cheap. The MSCI World index has tumbled around 21% year-to-date, and the S & P 500 isn't faring much better, down around 20% over the same period. Still, there could be buying opportunities in some stocks which analysts expect to rally. CNBC Pro screened for MSCI World index stocks that met the following criteria: A forward price-to-earnings ratio, which looks at estimated earnings for the next 12 months, of less than 10. Earnings-per-share growth expectations of 10% or more this year. Upside to consensus price target of 10% or more. At least 40% of analysts covering the stock give it a buy rating. The list turned up a slew of energy and commodity-related names, financials, automakers and more. Here are 12: Energy-related stocks that appeared included British oil and gas firm Shell, U.S. natural gas producer EQT Corporation and French oil firm TotalEnergies . EQT had among the highest price target upside in this list, at nearly 60%. Crude prices were on the up last week , on concerns about tightening supply given Europe's pending cut-off of imports from Russia. Two pharmaceutical firms also made the list: U.S. firm Pfizer and German firm Bayer . Analysts at Cantor Fitzgerald recently reiterated their overweight rating on Pfizer, saying they believe the stock is underappreciated. They indicated the earnings potential of Pfizer is "beyond the loss of exclusivity of key drugs through the end of the decade." Porsche SE and Volkswagen also made the list, with price target upsides of nearly 50%. Holding company Porsche SE announced in October that it's acquiring 25 percent plus one share of the ordinary shares in spun-off automaker Porsche AG. Analysts took an optimistic tone on Porsche AG when i t made its stock market debut in September. — CNBC's Michael Bloom, Ganesh Rao contributed to this report.