3 attractive stocks right now

The index has climbed and shares aren't as cheap, but there are still plenty of opportunities.

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With the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) having recovered 11% of the points that it lost when the market dipped between May and June, shares are no longer trading at heavily discounted prices. However, there are still plenty of attractive opportunities for investors to take advantage of.

Interest rates are at an all-time low, the US economy continues to strengthen and the Aussie dollar is sitting at around US90c – a level well below its three-year average. Here are three companies that could benefit from these circumstances.

Despite its strong run in the last 12 months (which has seen it climb around 85%), Mortgage Choice (ASX: MOC) is one company that presents as an excellent opportunity for investors to take advantage of. Many analysts have predicted a property boom with interest rates having fallen to an all-time low of 2.5%, with most of the market convinced that they will not be cut any further.

Mortgage Choice is in a prime position as a mortgage-broking company to benefit from this as more and more homebuyers sought out the best mortgages to suit their needs. Currently priced at $2.65 per share and with a market capitalisation of just $315 million, it also offers investors a 5.3% dividend yield and plenty of growth potential.

Coca-Cola Amatil (ASX: CCL) is once again sitting below the $13 mark following CLSA's revised status of the company from 'Underperform' to 'Sell'. Earlier this year, the company advised the market that it expected its earnings before interest and tax (EBIT) to decline by between 8% and 9%, due to the high Australian dollar and pricing pressures from imports.

Coca-Cola Amatil is one of Australia's strongest companies with one of the strongest brand names in the world, and it is very likely that these circumstances will only affect the company in the short term. Furthermore, the company should benefit substantially over the years as it re-enters the beer market later this year. It is currently sitting at $12.74 per share and offers a yield of around 4.5%.

Cochlear implantable device manufacturer Cochlear (ASX: COH) presents as another excellent prospect for your portfolio. The company was once a darling for investors but has suffered a series of setbacks – the latest being a 4.8% drop in a single day of trading based on the news that a Chinese competitor had received licensing and would begin to sell cochlear implants at a lower cost.

Valued at $58.70 per share, Cochlear is trading at a 29% discount compared to its high in January and offers a partially franked 4.3% dividend yield. With its new Nucleus 6 processor due to be released in the US market by the end of the calendar year, investors may wish to take advantage of its low price before sales begin to pick up.

Foolish takeaway

Although the index is now sitting significantly higher than its levels in May and June, there are still bargains to be had, provided that investors know where to look.

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Motley Fool contributor Ryan Newman does not own shares in any of the companies mentioned in this article.

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