Buying and holding stocks with attractive valuations is a proven strategy when it comes to producing market-beating returns over the long haul. Nevertheless, value stocks — or stocks priced below their immediate peers — aren’t always great investments. Many of these cheap equities, after all, are trading at depressed valuations for a reason.

In order to separate the wheat from the chaff, we asked three of our Motley Fool contributors which value stocks they think are outstanding buys right now. They suggested IBM (NYSE:IBM), The Children’s Place (NASDAQ:PLCE), and Teva Pharmaceutical Industries (NYSE:TEVA). Here’s why…

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