12 Stocks That Will Make You Rich in 10 Years

4. The Home Depot, Inc. (NYSE:HD)

Number of Hedge Fund Holders: 102

The Home Depot, Inc. (NYSE:HD) is one of the 12 stocks that will make you rich in 10 years. On June 23, TD Cowen reaffirmed its “Buy” rating on Home Depot’s stock. The firm also kept the $470.00 price target. This decision followed reports of the company’s potential acquisition of GMS Inc. (NYSE:GMS), a specialty distributor of building products.

Reports indicate that Home Depot submitted a competing offer to acquire GMS following an initial bid by QXO. According to TD Cowen, the potential GMS acquisition aligns with Home Depot’s strategy to expand its presence in the professional contractor market. The firm noted that Home Depot has done well in previous acquisition attempts. For instance, while the market initially viewed the SRS acquisition skeptically, it has proven “very successful,” demonstrating Home Depot’s ability to integrate and grow acquired businesses.

Nevertheless, TD Cowen expressed a neutral stance on the GMS bid, stating that it would move Home Depot further from its core single-family residential professional business. This could add operational complexity and dilute margins at a price described as “not cheap.” The acquisition could also delay Home Depot’s share buyback program.

The Home Depot, Inc. (NYSE:HD) is the largest home improvement retailer in the U.S. It sells building materials, home improvement products, lawn and garden supplies, and offers installation and tool rental services. Its key product categories include building materials, décor, and hardlines like tools and appliances.