The markets haven’t been very strong in recent weeks, and that’s putting it lightly. It’s easy to get down and assume that things will continue to get worse, but this latest decline may only be temporary, and buying at a time like this could prove to be very advantageous for investors to pick up some stocks at very low prices.
One stock that I could see rising in value significantly in the next year is Bombardier (TSX:BBD.B). While it’s not my favourite stock by any means, last week it finished at just $1.58, hovering right around its 52-week low. This is as bad as the stock has done since back in 2016, when it fell below the $1 mark.
It’s possible that the stock will continue to drop even further, as it’s had nothing but bad news lately. However, the company has also been taking strides to shed costs and make moves that should help its bottom line. It will take time for those results to start coming through on Bombardier’s financials, but when they do, they could generate a lot of bullishness for the stock.
For the stock to double in value, it would need to get back up over $3 a share, which is where it was at last November. A couple of strong quarterly results could definitely help that happen, and that’s why I see the stock doubling as being very probable.
There’s still risk that the stock will continue to plummet, but Bombardier has proven over the years to be a resilient company, despite the challenges it has faced.
Corus Entertainment (TSX:CJR.B) is another stock that has been struggling of late that I wouldn’t count out just yet. Still reeling from the effects of Shaw selling its shares in the company, Corus has not been able to get back to the strong momentum that the stock had earlier in the year when it looked like it was back on its way to double digits.
Corus closed the week at a price of just $4.78, and that’s a very attractive value for a stock that could see a lot of upside, especially now that it has partnered with Amazon and will offer an online streaming package for customers, STACKTV. A big boost to its sales could certainly help the company improve its bottom line, which would bring back investors in a hurry.
Over the past couple of years, Corus has lost well over half of its value. However, the stock has a lot of good value, and it just needs to prove to investors that it can still produce some good results, and that there are still opportunities for growth. Corus is heavily discounted today, trading at around just 0.6 times its book value and a price-to-earnings ratio of just six.
To get back to $10 and to double from where it is today doesn’t seem like a long shot, and it’s definitely very possible if the company can string together a few good quarters. This is a stock that still has a lot of potential, and it could offer investors some terrific returns.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Fool contributor David Jagielski owns shares of CORUS ENTERTAINMENT INC., CL.B, NV. David Gardner owns shares of Amazon. The Motley Fool owns shares of Amazon.