5 Best Rebound Stocks To Buy Now

In this article, we discuss the 5 best rebound stocks to buy now. If you want to read about some more rebound stocks, go directly to 11 Best Rebound Stocks To Buy Now.

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

Number of Hedge Fund Holders: 76  

The Home Depot, Inc. (NYSE:HD) is a home improvement retailer. On December 8, Truist analyst Scot Ciccarelli maintained a Buy rating on The Home Depot, Inc. (NYSE:HD) stock and raised the price target to $356 from $340. 

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm Citadel Investment Group is a leading shareholder in The Home Depot, Inc. (NYSE:HD) with 1.9 million shares worth more than $591 million. 

In its Q3 2023 investor letter, Madison Investments, an asset management firm, highlighted a few stocks and The Home Depot, Inc. (NYSE:HD) was one of them. Here is what the fund said:

“We updated the sustainable scorecard for The Home Depot, Inc. (NYSE:HD) and maintained our Above Average Rating. Home Depot’s corporate responsibilities focus on three pillars: focusing on its people, operating sustainably, and strengthening its communities. Home Depot continues to focus on its people by investing billions of dollars in wages, training, and benefit enhancement. The company’s environmental targets include the reduction of direct (Scope 1) and indirect (Scope 2) emissions by 42% by 2030, as well as a 25% decrease in emissions related to the “use of products sold” (Scope 3 emissions). Both targets are from a 2020 base year.

Separately, The Home Depot Foundation announced that it will invest $6 million in skilled trades training to address the 400,000 job openings across the construction industry. This grant launches a new program that will provide free, skilled trades training and scholarships for veterans and military families.”