Everything in the stock market is getting hit hard, even the so-called safe stocks like Apple, Walmart and Disney are getting taken down. When you have stocks that have been “crowded” or popular among hedge funds and mutual funds getting absolutely destroyed for no reason other than liquidation purposes, it may be time to take a look. The analysts at Jefferies did, and they found three quality stocks that are favorites on Wall Street that have been cut down by almost 40% it in less than two months.

The Jefferies analysts pinpointed high-quality companies that have been taken out and shot, not one-trick pony micro-cap biotechs that are one failure away from bankruptcy. Here are the three crowded trades that deserve a look for at the very least a bounce-back trade.

Hertz Global Holdings Inc. (NYSE: HTZ) is perhaps a surprise name to make the crowded trade list. The stock is down a gigantic 37% in less than one month. Hertz operates its car rental business through the Hertz, Dollar, Thrifty and Firefly brands from approximately 10,400 corporate, licensee and franchisee locations in North America, Europe, Latin America, Asia, Australia, Africa and the Middle East. Hertz is the largest worldwide airport general use car rental brand, operating from approximately 8,800 corporate and licensee locations in approximately 150 countries. Hertz is the number one airport car rental brand in the United States and at 111 major airports in Europe.

The Thomson/First Call consensus price target for this rental giant is $28.25. Hertz closed Wednesday at $19.75. Trading back to the target would be a 43% gain. A 50% bounce-back would be a 21% gain.

ALSO READ: 4 Top Biotech Stocks Could Explode Higher After Huge Sell-Off

Shire PLC (NASDAQ: SHPG) is a top large cap name to make the list at Jefferies, and is down a gigantic 35% in less than three weeks. The stock was absolutely destroyed when AbbVie made it clear with tax inversion benefits gone that it may want out of the planned acquisition of the company. The company had repositioned its business in 2013, undertaking a realignment program with strategic focus on rare diseases and greater operational discipline. Shire has drugs for ulcerative colitis and hereditary angioedema in its portfolio. It also has the top-selling Adderall XR for the treatment of ADHD.

While disappointed arbitrage accounts blew the stock out at a furious pace, Shire remains a quality pharmaceutical holding, and may very well once again become an acquisition candidate. The consensus price target for the stock, which will be reset as the acquisition is over, is $247.23. The stock closed Wednesday at $170.49. Trading to the target would be a 45% gain. A 50% move back up would be a 22% gain.

SunEdison Inc. (NYSE: SUNE) was recently highlighted as one of the banks top new investment ideas. The Credit Suisse team had pointed to continued positive risk-reward, especially after the company had a successful yieldco IPO to act as a positive catalyst. The company said recently it was embarking on a project to bring solar-power micro grids to rural India. SunEdison will build and operate the facilities and transfer them to a public entity after five years. The microgrids will begin construction next month. A blow-out earnings number recently also set a very positive tone for the company.

The stock is down a gigantic 37% since the highs printed this summer, and almost 30% in the past three weeks. The consensus price target is $26.50. Shares closed Wednesday at $15.11. A trade to the target price would be a 75% gain. A 50% upside move from here would be a 37.5% gain.

ALSO READ: 3 Franchise Stock Picks From Jefferies Put On Sale During Market Rout

The key thing to remember is none of these are horribly aggressive or risky stocks, and all have had outstanding earnings over the years. While this trade idea is not meant for conservative accounts, as the market may still have more downside, for long- or short-term holders, these three stocks could bring big returns.

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