The FTSE 100 is currently down around 3.5% from its year-to-date highs set last month. But there are a number of UK stocks that are trading at a much more attractive discount at the time of writing. Here’s our list of the top three you should consider in 2024.
EasyJet plc 
E.Z.J.
Down more than 20% from its year-to-date high, easyJet is an undervalued UK stock worth buying this year.
EZJ stock could be a great choice to write down because management is committed to reducing net debt and improving the overall balance sheet and signs that its strategy is working are already becoming evident.
EasyJet will likely benefit as the airline continues to improve its passenger capacity in the coming months.
The London-listed company currently pays a dividend yield of 1.0%, making it even more attractive to buy in 2024.
Centrica plc 
CNA
Centrica is on our list of the UK’s most undervalued shares because it is down more than 15% from its year-to-date highs set in early January.
It’s worth owning shares in this multinational, not just because it’s a leading energy and utilities company in the UK, but also because it has a raft of notable subsidiaries, including Dyno, British Gas and PH Jones for a wide range of services such as heating, plumbing and drainage.
$CNA ends 2023 with £2.2 billion of free cash flow, reflecting the strength of its financial stature.
Furthermore, the healthy dividend yield of 3.02% acts as the icing on the cake in terms of making Centrica shares suitable for those interested in undervalued UK stocks.
Reckitt Benckiser Group PLC 
RKT
Reckitt shares are currently undervalued by more than 40% of UK listed names, according to the discounted cash flow mode.
The consumer goods giant is under tremendous pressure after a US court ordered it to pay $60 million to the mother of a premature baby who allegedly died from her Enfamil.
But $RKT is confident in the safety of its products and has therefore launched an appeal against the above judgment, which if successful could clear up a long-standing issue with Reckitt shares.
In April, Reckitt said solid demand for Dettol and Lysol helped it beat comparable sales growth expectations in the fiscal first quarter. However, $RKT does not pay a written dividend.
