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These 5 FTSE 100 stars are looking far too cheap!

Today I’m looking at five FTSE 100 (INDEXFTSE: UKX) stars that merit serious attention from bargain hunters.

Medical might

The post-Brexit panic has seen investors pile into GlaxoSmithKline (LSE: GSK) like nobody’s business. Indeed, the stock has gained 16% since the polls closed and has taken in multi-year highs in the process.

But GlaxoSmithKline still offers terrific value for money in my opinion. Sure, a forward P/E rating of 18.3 times may peak above the historical blue chip average of 15 times. But I believe a rapidly-improving product pipeline still makes GlaxoSmithKline a terrific stock pick.

Besides, a chunky dividend yield of 4.9% more than makes up for this slightly-heady earnings multiple.

Build a fortune

While GlaxoSmithKline has benefitted from defensive buying of late — medicine is one of life’s essentials, after all — homebuilder Taylor Wimpey (LSE: TW) has dived as investors have fretted over a backdrop of plummeting homebuyer activity following the referendum.

But while the property market may suffer an immediate shake, I reckon Britain’s home creators remain solid bets for the coming years as the housing shortage looks set to run and run. And low interest rates should also continue to support buyer appetite.

As such, I reckon heavy weakness at Taylor Wimpey makes it a great dip buy at current prices — the firm deals on a forward P/E rating of 8.6 times, while a dividend yield of 7.6% mashes the big-cap average of 3.5%.

Cash in!

Fears that Britain may enter economic armageddon following the EU vote has sent easyJet’s (LSE: EZJ) share price packing in recent sessions.

However, I reckon there are still plenty of reasons to be optimistic. Firstly, cost-conscious holidaymakers are likely to flock to easyJet’s cheap seats; the fall of the pound should boost the number of travellers coming into the UK; and the budget flyer’s expansion across Europe should keep the top line buzzing, too.

As such, I reckon easyJet is a steal at present, the firm trading on a prospective P/E ratio of just 8.7 times and carrying a dividend yield of 5.5%.

Foreign favourite

While a cooling UK economy could drag on sales growth at Prudential (LSE: PRU), I reckon the firm’s hefty exposure to the robust US marketplace — allied with its growing presence in Asia — should still deliver solid earnings growth in the years ahead.

Besides, the insurer sources around 80% of new business sales from outside Britain, making it more immune to the impact of Brexit than many of its big-cap peers.

I reckon now is a great buying opportunity, with The Pru currently dealing on a P/E rating of 10.9 times for 2016 and boasting a dividend yield of 3.2%.

A smoking selection

I also reckon Imperial Brands (LSE: IMB) is a great pick for investors wishing to reduce their exposure to the British economy.

Developing markets are key to revenues growth across the tobacco industry and I believe hot labels like West and Gauloises should keep sales rising despite a backcloth of falling industry volumes. And Imperial Brands’ charge into the fast-growing e-cigarette market promises to deliver solid earnings growth too.

A forward P/E rating of 16.8 times is great value given Imperial Brands’ exceptional defensive qualities, in my opinion, while a generous 3.9% dividend yield seals the investment case.

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Royston Wild has no position in any shares mentioned. The Motley Fool UK owns shares of and has recommended GlaxoSmithKline. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.