As 2017 wraps up, it’s time to look ahead to what stocks could be great buys for 2018. In the list below, I rank the stocks that I believe have the most upside for next year and that could provide investors with great returns.
No list could be taken seriously without including Canopy Growth Corp. (TSX:WEED), the company that has become synonymous with the cannabis industry. Canopy has secured some significant partners and deals, including an agreement with New Brunswick to help supply it with marijuana when pot is legalized.
Aphria Inc. (TSX:APH) is the second cannabis stock to make the list. It recently secured a significant deal with Shoppers Drug Mart that might pave the way for its products to be sold in its stores (currently, the plan is to only sell online). While other cannabis producers are struggling to produce profits, Aphria has managed to produce a consistently healthy bottom line, as it continues to find ways to bring down its costs.
Shopify Inc. (TSX:SHOP)(NYSE:SHOP) has seen its share price climb more than 120% in 2017, and it wasn’t until recently that that rapid incline started to drop after a critical report from a short seller. A strong Q4 in February to wrap up the fiscal year could be what sends the stock back on the ascent.
Enbridge Inc. (TSX:ENB)(NYSE:ENB) has had a forgettable year with its stock dropping 13% of its value in 2017. However, with supply cuts extended until possibly the end of 2018, oil prices could continue to climb, and Enbridge is one stock that would benefit from a stronger oil and gas industry.
Sierra Wireless, Inc. (TSX:SW)(NASDAQ:SWIR) has grown more than 30% this year, but there could be more to come in 2018 as self-driving technology continues to move forward. The company has been trusted by Volkswagen to integrate with its Car-Net system.
BlackBerry Ltd. (TSX:BB)(NYSE:BB) is another stock that could benefit from the self-driving revolution, as it continues to develop its QNX software. The company has positioned itself as a provider of secure encryption tools and could see a lot of growth, especially after it earned the trust of a big government agency south of the border.
Dollarama Inc. (TSX:DOL) has seen strong growth this year, and as costs get higher for consumers, dollar stores offer an easy way for people to stretch their budgets.
Lithium Americas Corp. (TSX:LAC) has tripled its share price this year, and as the demand for lithium-ion batteries grows, so too will the company’s sales. Laptops and mobile phones are just two examples of where we could see demand for lithium come from.
Cameco Corp. (TSX:CCO)(NYSE:CCJ) didn’t have a great year in 2017 with its stock declining 5%, and the company having to cut production and its dividend. However, supply cuts could cause uranium prices to climb back, and that could do wonders for the company’s profitability.
Air Canada (TSX:AC)(TSX:AC.B) made new all-time highs in 2017, and year-to-date returns have been just under 90%. As the economy continues to grow and business and vacation travel rises, the airline could see another strong year in 2018.