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Many FTSE 250 stocks look really cheap today, offering the potential for both future share price growth and income.
Here, I’ll look at two out-of-favour shares that I think long-term investors should check out in December.
4Imprint
First up is 4imprint (LSE:FOUR), the London business that’s actually North America’s largest promotional goods supplier. It sells logo- or brand-embossed products like pens, mugs and shirts to businesses (primarily small- and medium-sized).
After a strong multiyear rise, the share price has now fallen 40% since May 2024. This is primarily due to a weak market backdrop and cost inflation, which are respectively putting pressure on 4imprint’s top and bottom lines. These risks continue to hang over the business.
However, the company still boasts strong customer retention rates while its asset-light, drop-ship model means it’s highly cash generative. At the end of October, it had a cash balance of $124m.
For the full year, management expects a pre-tax profit of at least $142m, which would be above the upper end of analysts’ forecast range. And despite tariff volatility, a double-digit operating profit margin was maintained over the first 10 months of 2025.
The Board is confident that the Group will continue to effectively navigate market conditions, delivering solid financial results while positioning the business to take advantage of opportunities that will present themselves as economic and market conditions improve. 4Imprint, November 2025.
The company is navigating a tricky period. But management has a strong long-term focus (the CEO has been at the firm for decades). As macroeconomic conditions improve over the next couple of years, I expect 4imprint to return to growth.
Looking further out, 4imprint has a significant opportunity to consolidate the extremely fragmented promotional products market in North America. Today, it only commands around 5% share, generating annual revenue of $1.3bn.
The stock’s trading at a reasonable valuation and offering an attractive 4.7% dividend yield. Analysts have an average price target of 4,910p — around 27% higher than the current share price.
Greggs
The second FTSE 250 stock I think looks cheap right now is Greggs (LSE:GRG). Shares of the market-leading bakery chain have plummeted 45% year to date!
Investors have turned bearish on UK retailers like Greggs due to the dire state of the economy, with its persistently low rates of growth and under-the-cosh consumers. There’s a real risk that things don’t improve over the next 12 months.
So why on earth might investors consider Greggs stock? Well, as smaller rivals go to the wall during these tough economic times, I expect the company to emerge stronger on the other side. It has an strong brand, solid balance sheet, and millions of loyal customers.
Crucially, most of the bad news now appears priced into the stock. It’s trading at just 12 times forward earnings, a massive discount to the past 10 years. Any signs of improvement will almost certainly jolt the share price higher.
Greggs is also sporting a 4.5% dividend yield. So there’s decent income on offer while investors wait for a possible turning of the tide.
Finally, it’s worth noting that analysts also think the stock’s oversold right now. Their average share price target is 28% above the current level of 1,544p.
Much like its food, Greggs’ shares seem attractively priced.
