The stock market has been pushing higher and higher for eight years now, including a strong leg up following the presidential election. As a result, some investors feel that stocks are now too richly priced to buy.

But there is still good value in the market if you know where to look. Hint: Don’t necessarily look within the sectors that have soared. Broad market rallies usually leave behind certain sectors, and within those sectors can be found individual stocks with attractive prices and strong growth potential.

It’s a cliché, but the market regularly throws out the babies with the bathwater. And that presents opportunities for those willing to do the work and find long-term winners.

Take Target Corp. (TGT). A year ago, the retailer traded in the $80s. Today, it’s around $55 a share. It’s easy to see why investors would be turned off by Target based on short-term criteria. One of the biggest is that it recently fell short of its fourth-quarter earnings projections.

But bear in mind that when the market punishes securities based on a disappointing quarterly report, it overreacts and drives the price down too much. Smart value investors might look at a stock like Target and see that its falling price has created a high dividend yield—currently 4.35%.

More importantly, Target also has a high return on invested capital. Return on invested capital is a key longer-term measure of a company’s profitability—it illustrates how effective a company is at generating a profit from every dollar you invest.

At Target’s current price—which is as low as we’ve seen since the wake of its 2013 credit-card data breach—its stock is a value. To be clear, the point of this blog isn’t that you should run out and buy TGT shares. It’s that even in this richly priced market, there are quality value plays to be found.

As always, value investments require patience. Those that reward investors do so over time, not immediately. But such stocks often have strong dividend yields that help us to remain patient. Target’s yield is about twice that of the 10-year Treasury, for example, and is easily outpacing inflation. By the way, the company has posted 49 consecutive years of dividend increases, which is another market of a strong organization.

The takeaway: When the market is up, certain stocks will be left behind. Those that are unfairly left behind by the market’s short-sightedness can prove to be long-term winners.