3 No-Brainer Canadian Stocks to Buy Today

These three companies offer tremendous upside and all trade at attractive prices, making them three of the top Canadian stocks to buy today!

| More on:

Image source: Getty Images.

You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn more

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.

More on Stocks for Beginners

Dollar symbol and Canadian flag on keyboard
Stocks for Beginners

New to Investing? 3 Top Stocks Every Canadian Should Own

Safe dividend stocks paying out yields of at least 3% is a low-risk way to invest in stocks. Buying at…

Read more »

Man data analyze
Stocks for Beginners

Beginners: 2 Market-Beating Stocks Just Getting Started

Brookfield Asset Management (TSX:BAM.A)(NYSE:BAM) and Constellation Software (TSX:CSU) are proven market beaters that could continue their ways.

Read more »

Stocks for Beginners

Have $10,000? Top 2 Stocks You Should Invest it in

Passive-income stocks like BCE (TSX:BCE)(NYSE:BCE) could be good opportunities in 2022.

Read more »

Double exposure of a businessman and stairs - Business Success Concept
Stocks for Beginners

3 Blue-Chip Stocks to Buy Today and Never Let Go

Old and new investors alike will worry less about market volatility if blue-chip stocks are the backbones of their investment…

Read more »

edit Businessman using calculator next to laptop
Stocks for Beginners

Got $6,000? Here’s How You Can Power Your TFSA in August

Are you hoping to contribute to your TFSA? Power your portfolio with these three stocks!

Read more »

edit Person using calculator next to charts and graphs
Stocks for Beginners

TFSA Investors: 3 Stocks With Unbelievable Staying Power

Are you looking for stocks to add to your TFSA? Here are three stocks with unbelievable staying power!

Read more »

TFSA and coins
Stocks for Beginners

Got $6,000? 2 Cheap Stocks to Buy for Your TFSA Right Now

Here's two cheap stocks that could blow away growth estimates and set you up well in the long run.

Read more »

Businessman holding tablet and showing a growing virtual hologram of statistics, graph and chart with arrow up on dark background. Stock market. Business growth, planning and strategy concept
Dividend Stocks

3 Top TSX Stocks That Saw Bumper Q2 Earnings Growth

Some stocks are seeing epic growth even as the market braces for a recession.

Read more »