5 Best Homebuilder/Housing Stocks To Buy Now

2. The Home Depot, Inc. (HD)

Number of Hedge Funds: 73

Total Value of HF Holdings: $4.96 billion

Shares of Home Depot initially plunged in March but investors quickly recognized the fact HD will actually benefit from the current environment. HD quickly recovered its loses and climbed above $290. That’s when analysts started to get nervous about the stock. In September Oppenheimer’s Brian Nagel said that HD and LOW are due for a post-pandemic reset after their recent sales surge. His firm lowered its price target for Home Depot and Lowe’s and changed their ratings to perform from outperform. Home Depot’s price target was lowered to $305 from $320 and Lowe’s to $180 from $185. Since then LOW performed better than HD, but both stocks underperformed the market.

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