#5 - Home Depot (NYSE:HD)
Home Depot (NYSE:HD) was one of the unquestioned winners during the pandemic. However, putting the company on this list may be seen as a contrarian bet of sorts. Some analysts are suggesting that the stock’s recent pullback was expected and may not be over. And I suppose that may be true if you’re expecting 75% growth as the stock has done since March.
However, when I widen the lens, I see a stock that’s up a more modest 21% for the entire year. And at the beginning of the year, the housing market was still struggling to heat up despite mortgage rates being at attractive levels. That appears to be changing. This means more homeowners will be looking to do projects, especially since there may still be limitations to travel this holiday season.
And because Home Depot has made a successful pivot to omnichannel retail, consumers can have what they needed to be delivered, frequently the same day. The fact that Home Depot competes in an area that is not easy for Amazon (NASDAQ:AMZN) to compete in can’t hurt.
About Home Depot
The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.
More about Home Depot- Current Price
- $381.48
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 23 Buy Ratings, 8 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $436.50 (14.4% Upside)
