The stock market has turned into a roller coaster, but at least for investors it isn’t going down every day anymore. Despite the big rallies of last week and Monday, the market is still down solidly for the year, and it will take some good earnings and economic news to push us back to even for 2015. One good area for investors to look now is value, and a new report from Jefferies highlights some stocks that investors may not perceive as true value companies.

The Jefferies team has taken the old value tenets, which have typically been low multiples and valuations, and under-appreciated sector status, and applied them to companies of all market caps. We screened the Jefferies list of stocks to buy, and found some outstanding recommendations.

Citigroup

This large cap banking giant would usually not hit the value screen, but it does at Jefferies and could have solid upside. Citigroup Inc. (NYSE: C) is very cheap, trading at just 9.15 times estimated 2015 earnings, and it is the nation’s fourth-largest bank by assets. Numerous Wall Street analysts cite the fact that Citigroup will be a leader in buyback payouts to shareholders. Combined with the bank’s strong domestic and international business, and a better overall economy, plus the headline risk over bank stress tests being removed, share purchases look wise here.

ALSO READ: Why Merrill Lynch Now Favors Large Cap Leaders in Biotech

Jefferies upgrades the stock to Buy and points out that Citigroup trades at 85% tangible book value (TBV), which is where the stock has found support in the past. While the firm did lower its numbers, Jefferies thinks that is priced in and sees the TBV growing 14% by this time next year.

Citigroup investors are paid a small 0.4% dividend. The Jefferies price target for the stock is $60, and the Thomson/First Call consensus price target is $64.34. Shares closed most recently at $51.06.