'Significant discount': 2 'good value' ASX 200 shares to jump on right now

Check out these lithium and consumer discretionary stocks that have been heavily sold off this year.

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With all the numbers, graphs and calculations, it's hard to believe sometimes that the market often just gets emotional.

But it does. Big time.

So even large-cap S&P/ASX 200 Index (ASX: XJO) stocks can be sold down even though their long-term prospects are still fine.

One expert named two such examples this week that he recommends investors buy:

Buy low these ASX 200 shares

It's been a shocking few weeks for Tabcorp Holdings Ltd (ASX: TAH) shares, which have lost 38.7% since 4 September. 

BW Equities equity salesperson Tom Bleakley attributes this to poor numbers kicking off the 2024 financial year.

"Group revenue for this wagering company was down by 6.1% in the first quarter of fiscal year 2024 when compared to the prior corresponding period," Bleakley told The Bull.

"Digital wagering turnover was up by 1%, but digital wagering revenue was down by 3.9%."

However, the analyst is not worried, and reckons the sell-off is a chance to buy for cheap.

"The company's plan is to increase revenue and reduce costs under its transformation strategy."

"In our view, the share price is trading at a significant discount after falling from $1.10 on September 5."

Tabcorp shares closed Monday at 68 cents.

Six out of 11 analysts currently rate the ASX 200 shares as a buy, according to CMC Invest.

Lithium will roar back in the long run

Mineral Resources Ltd (ASX: MIN) has also had a pretty ordinary 2023, with the stock down more than 35% since late January.

Bleakley noted that the company is involved with both iron ore and lithium mining, as well as providing outsource services.

The plunging global lithium price this year has not helped its valuation.

"Mineral Resources' lithium exposure leaves it in a strong position as the industry matures," said Bleakley.

"The stock is significantly down since early March, so we believe it offers good value."

He pointed out how the company has significantly increased its exposure to the lithium market. 

"Mineral Resources has accumulated substantial stakes in quality lithium companies Wildcat Resources Ltd (ASX: WC8) and Azure Minerals Ltd (ASX: AZS)."

There is strong support in the professional community for Mineral Resources.

According to CMC Invest, a whopping 13 out of 18 analysts currently rate the ASX 200 stock as a buy.

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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