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Donald Trump Will Make These 2 Canadian Stocks Great Again

There’s no question that the Donald Trump presidential victory caught everyone by surprise. What was more surprising was the fact that stocks rallied the day after the election. Many people thought the market would correct or even crash if Donald Trump was elected president.

This goes to show that market truly is unpredictable. While others panic, you can take the opportunity to invest in stocks that will benefit from a Trump presidency.

There are a ton of unknowns right now, and these unknowns will cause volatility in the upcoming weeks, but as people come to realize that Donald Trump is not as horrible as he was made out to be, we may actually enjoy a nice “Trump rally” back to 52-week highs.

One stock that will benefit greatly from a Trump presidency is TransCanada Corporation (TSX:TRP)(NYSE:TRP). The ability to build pipelines across the border was affected after President Obama rejected the Keystone XL pipeline. Donald Trump has made it clear that he’s open to having the pipeline and said that he’d ask TransCanada to renew its permit application.

If Keystone XL is approved, more crude oil will be transported from Canada into the U.S., and this would cause a huge amount of investment interest in Alberta’s oil sands. We could potentially see the struggling oil companies finally gain some ground after the nasty rout in oil prices we’ve experienced over the past few years.

Such a move could give Canada the boost it needs to get out of its funk. While Donald Trump is “making America great again,” he’ll actually also help make Canada great again if the right moves are made. There’s no way to be certain that Trump will approve of pipelines such as Keystone XL, but there’s a much better chance than there was with Obama.

Another stock that will benefit big from a Trump presidency is Suncor Energy Inc. (TSX:SU)(NYSE:SU). The company has a huge holding in Canada’s oil sands. Investment in Canadian oil as well as the oil sands has been increasingly difficult under Alberta’s premier.

While other oil firms were on their knees during the rout in oil prices, Suncor was actually making acquisitions since its balance sheet was strong enough to do so. If Trump approves of pipelines, we may see Suncor transport a lot more of its crude to the U.S., and this could shoot Suncor to highs not reached since before the financial crisis.

There’s no question that Suncor and TransCanada have terrific managers, but all they need is a catalyst in order to become great again.

Suncor has been flat for years, and some would argue that TransCanada is already great, but the Keystone XL approval will make both stocks soar into the atmosphere.

While other investors are panicking over Trump’s presidency, you can grab the bull by the horns and invest in these two fantastic stocks that may be on their way up thanks to one approval.

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Fool contributor Joey Frenette has no position in any stocks mentioned.

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