Are Stocks Cheap Enough Yet? By: CNBC.com News September 23, 2011 at 13:32 PM EDT JP Morgan's Thomas Lee points out that 53% of stocks have a P/E ratio of less than 12. That's the lowest level since 2008. Should you just go for it and buy? Read More >> Related Stocks: Coach Cognizant Technology Solutions F5 Networks FedEx Corp Intuit Nike Inc The Priceline Group Tiffany & Co United States Steel Corp Yahoo