Many investors keep talking about a recession and yet, there’s still no recession. Regardless, it’s got some investors looking for recession-proof stocks, while others are looking to buy stocks for an economic boom.

Picking stocks for 2023 has not been an easy ride.

Not many investors expected the Nasdaq to explode more than 30% in the first two quarters and for the S&P 500 to jump 16%. Further, both indixes roared higher in four consecutive months to end the first half of 2023.

That’s despite all of the noise from the global economy. Interest rates, inflation, inverted yield curves, commercial real estate, geopolitical tensions, etc.

However, none of it has seemed to matter. These may not be recession-proof stocks, but if we avoid a recession, these are stocks that bulls will want to be long. Let’s look at stocks for an economic boom.

Stocks for Economic Boom: Target (TGT)

Target (NYSE:TGT) is one of the largest retailers in the U.S., but it has not been getting much love. Over a 10-session stretch in June, shares tumbled 22%. Even though the stock has stabilized, the stock still remains 50% below its all-time high, which it hit in November 2021.

Since the peak, the company has struggled with margins, inflation, and inventory. Most recently, it has been battling political pressures.

Headlines aside, investors are overlooking long-term opportunities in lieu of short-term headaches. The reality is that Target remains a very good U.S.-based retailer, with a steady track record in regards to its dividend and sports solid growth.

Target has raised its dividend for 52 consecutive years, while analysts expect more than 35% earnings growth this year and almost 25% growth in 2024.

Investing in Our Homes: Home Depot (HD)

Home Depot (NYSE:HD) stock is enjoying a powerful comeback at the moment, as shares have risen for eight straight weeks. The rally has been consistent, though not explosive, as shares are only 12% off the recent low. Still, it’s been nice to see some strength in this name.

All this as Home Depot stock had a tough 2022 and as recently as mid-May, shares were just a few percentage points from the 52-week low.

In the short term, business may remain bumpy. Analysts expect a mild dip in revenue this year to go alongside a 10% drop in earnings. That said, Home Depot only trades at 20 times this year’s earnings estimates.

When you look at the housing market, many regions remain strong. That bodes well for Home Depot, Lowe’s (NYSE:LOW), and others. Whether investors have locked in low rates or are being pushed into buying amid a high-rate environment, homeowners will want to continue making improvements around their home.

Vacations or Staycations: Disney (DIS)

Like Target, Disney (NYSE:DIS) stock has been beaten down. The stock has put together a three-day win streak good for a near-5% gain. However, that hasn’t done much to improve sentiment from long-term investors. That’s as shares remain 55% below the all-time high.

Disney has been unable to escape the market’s wrath, nor has it benefited much from the market’s robust rebound. Instead, the stock continues to languish despite its many positives.

CEO Bob Iger has returned to the firm to help orchestrate and navigate a large restructuring. Should the economy avoid a recession, Disney’s theme parks and cruises should continue to serve up enormous revenue.

While its streaming business has been looked at as a liability, investors must realize that Disney has more than 230 million paying streaming subscribers for its Disney+, Hulu, and ESPN+ services. Eventually, that “liability” will become a monstrous asset.

On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.