Momentum Stocks that are Still Relatively Cheap to Buy

Can a stock trade near its 52-week high without carrying a high valuation? These five QSE stocks show

how the two can coexist.

As of 1 October 2026, the five stocks shown were trading within 10% of their respective 52-week highs,

while maintaining price-to-earnings (P/E) ratios below 15x.

Ahli Bank (ABQK) was trading at 95.6% of its 52-week high, with a P/E of 11.4x. Lesha Bank (QFBQ)

followed at 94.7%, with a P/E of 13.4x.

Alkhaleej Takaful (AKHI) stood at 94.1% of its 52-week high, with a P/E of 10.1x. Meanwhile, Doha

Insurance (DOHI) and Mannai Corp (MCCS) were trading at 93.8% and 92.0% of their respective highs,

with P/E ratios of 6.8x and 8.1x.

What makes this combination interesting for investors?

P/E tells us how much investors are paying for a company's earnings, while its position within the 52-

week range shows where the current share price stands relative to its annual high.

Together, these metrics can help investors identify stocks with relatively low earnings multiples that are

also trading near their recent highs.

However, a low P/E doesn't automatically mean a stock is undervalued, just as trading near a 52-week

high doesn't guarantee further price appreciation. Both figures are starting points for further research.

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