With markets at all-time highs, it can seem like it might be difficult to find any stocks worth an investment. And while it’s certainly more difficult to find high-quality Canadian stocks to buy today, there are still high-quality investments out there.
The market is always moving, with stocks being overbought and oversold daily. Companies continue to look for ways to grow, especially as we exit the pandemic.
Therefore, with so many moving parts in a rapidly recovering economy, there are certainly some high-quality opportunities for investors today.
Here are three top Canadian stocks that are worth a buy in today’s environment.
A top clean energy stock
One of the best opportunities for Canadian investors today is with Xebec Adsorption (TSX:XBC). Xebec is a cleantech stock with a tonne of long-term potential.
The company makes equipment that helps trap raw gases and converts them into clean forms of energy, such as renewable natural gas and hydrogen. This is a business and industry with tremendous long-term growth, especially with the massive renewable energy revolution that’s ongoing.
Currently, Xebec is working to build a business that has a high degree of recurring revenue. This is promising and an ideal way to build the business, which is why it’s such a great long-term investment.
Plus, it’s also in an industry that can grow rapidly. Just in 2020, the stock rallied by more than 300%. Today, the stock remains cheap, though, with a market cap below $650 million.
So, if you’re looking for a top Canadian stock to buy today for years of growth potential, Xebec is a no-brainer.
The top Canadian cryptocurrency stock to buy
Another no-brainer stock to buy today, especially if you’re bullish on cryptocurrency, is Galaxy Digital Holdings (TSX:GLXY).
Galaxy Digital, in my view, is one of the best ways to gain exposure to the cryptocurrency industry. The stock is a financial services company that’s leading the way in the cryptocurrency industry.
It seems like Galaxy Digital does everything. It provides asset management services, offering ETFs for investors. In addition, it offers prime brokerage services, investment banking services, and derivatives trading. It even has its own mining segment and has a venture arm to invest in small, up-and-coming disruptors in the industry.
The company offers a tonne of potential, especially as the cryptocurrency and blockchain industries continue to grow in popularity.
Of course, because it’s exposed to the crypto industry, the stock itself happens to be volatile. However, it’s a stock I’d be buying to hold for years. So, I would look to take advantage of that volatility and buy the Canadian growth stock while it’s cheap today.
A leading growth stock
Lastly, another growth stock that looks mighty attractive in this environment is BRP (TSX:DOO)(NASDAQ:DOOO). BRP, which is short for Bombardier Recreational Products, is a consumer discretionary company making recreational vehicles for the snow, water, dirt, and even air.
BRP is the company behind products such as the Sea-Doo watercraft, the Ski-Doo snowmobile, the Can-Am off-road vehicles as well as boats, engines, and more.
BRP is a great company, as it’s one of the most dominant in its industry with some of the best brand-name products. Plus, in the current market environment, these products are in hot demand.
BRP has a long runway for growth and has recently come down from its high, offering investors a great entry point. Of the 11 analysts covering the stock, nine have it rated a buy, with only two rating it a hold and a consensus target price roughly 30% higher than where it trades today.
So, if you’re looking for a high-quality Canadian growth stock to buy today, at this discount, BRP is a no-brainer.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.
Fool contributor Daniel Da Costa owns shares of Xebec Adsorption Inc. The Motley Fool has no position in any of the stocks mentioned.