There are lots of attributes that many of the best stocks have. Two especially stand near the top of the list: an attractive valuation and exceptional growth prospects.

It's not always easy to find stocks that claim both of these qualities. But such stocks do exist. Here are three dirt-cheap stocks that could soar from 48% to 68%, according to Wall Street.

1. GSK

Several big pharma stocks have held up quite well as the overall stock market fell this year. However, GSK (GSK -0.88%) isn't one of them. Shares of the drugmaker are down more than 30% so far in 2022 and are nearly 50% below the high set early in the year.

At first glance, Wall Street might not seem all that optimistic about GSK. Three out of four analysts surveyed by Refinitiv in October rated the stock as a hold with only one viewing GSK as a strong buy. Still, the average analyst price target for GSK is roughly 48% above its current share price.

GSK's shares trade at 9.6 times expected earnings. This multiple looks even more impressive considering that analysts project the company will deliver average annual earnings growth of more than 10% over the next five years. GSK has several new products on the market with more likely on the way that should serve as solid growth drivers.

Another big draw for GSK is its dividend. The drugmaker's dividend yield tops 7.3%. There has been speculation for quite a while about the dependability of GSK's dividend. However, the company hasn't disappointed income investors in recent years.

2. BioNTech

After a couple years of sizzling gains, BioNTech (BNTX 0.07%) hit a rough patch in 2022. Shares of the German biotech have plunged nearly 50% year to date. However, this steep decline has given BioNTech a super-low valuation. Its shares currently trade at below eight times expected earnings.

Some Wall Street analysts, though, believe that vaccine stocks such as BioNTech are down but not out. The consensus 12-month price target for BioNTech reflects an upside potential of 66%. 

To be sure, many investors are concerned about what's next for BioNTech. COVID-19 vaccination rates seem to have plateaued. President Biden recently proclaimed that the pandemic is over. No one knows for sure what the demand for COVID-19 vaccines will be going forward.

But the potential for another coronavirus wave this winter could spur more orders for the omicron booster developed by BioNTech and its big partner, Pfizer. The two companies also have a late-stage messenger RNA flu vaccine candidate that could hold significant market potential.

3. Tenet Health

Put Tenet Health (THC -2.31%) in the group of stocks that have performed dismally this year. Shares of the hospital operator have fallen more than 30% so far in 2022.

This sell-off, though, has made Tenet's valuation even more appealing. The stock's forward earnings multiple is a little under 7.5. Its price-to-growth-to-earnings (PEG) ratio of 1.1 is also attractive.

Tenet has faced plenty of challenges over the past couple of years. In addition to the COVID-19 pandemic, staffing shortages, and overall economic uncertainty, the company experienced a cyberattack in April 2022 that caused it to lose around $100 million in revenue.

But some Wall Street analysts believe that better days could be ahead. The consensus price target for Tenet reflects a 68% upside potential.