The 4 Best Canadian Stocks Analysts Recommend Today

If you’re looking for the best Canadian stocks to buy today, here are the top analyst recommendations for Motley Fool investors.

Amy Legate-Wolfe

Author Bio Amy became interested in investing in 2018 after having her first daughter. After receiving a masters degree in journalism from Western University, she became frustrated that the finance industry remained a confusing place for Canadians like her: new parents, millennials, and other young people who needed to understand their finances. Now, Amy focuses on tech companies and renewable energy for growth opportunities, coupling that with long-term investing strategies and equities. She also provides investors with a daily newsletter, Canada Stock Digest, for daily market updates. Her work can also be found at Canada's National Observer, where she writes on the business side of climate action. Before joining Motley Fool Canada, Amy wrote for major news organizations including HuffPost, CTVNews.ca, and CBC. When she’s not researching investing strategies, Amy’s time is pretty much monopolized by her two wild daughters, but in what little spare time she has she loves to do yoga, go on walks with her dog, and travel with her husband. Social Media Follow Amy on LinkedIn and Canada Stock Digest. Favorite Investment Quote “October: This is one of the particularly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.” – Mark Twain

Published August 12, 2021 9:30 am EDT

Motley Fool investors looking for top stocks to invest in need only look for analyst recommendations. But that being said, there can still be a lot of options. Today, I’m going to take a quick look at four of the best Canadian stocks that analysts believe are coming into their own.

Interrent REIT

Interrent REIT (TSX: IIP.UN) didn’t fare too well during the pandemic, bottoming out with the crash. But analysts believe now the stock is going through a turning point. Second-quarter results reached expectations, with some negative sections turning positive after three quarters of decline. Traffic towards occupancy is now starting to move in a positive direction. Analysts remain positive that revenue growth will remain positive in the quarters to come.

Analysts began increasing their recommendations, moving the stock into a “buy” position. The average potential upside today stands at around $20 — about 17% higher than the share price at writing. With growth continuing throughout 2022 and 2023, some even believe the stock could outperform, making it one of the best Canadian stocks to buy today. And at a P/E ratio of 10.82, it remains a steal.

Auxly Cannabis

Cannabis stocks are another area where Motley Fool investors should look for the best Canadian stocks. One of those today is Auxly Cannabis Group (TSXV:XLY). True, the cannabis company remains trending downwards — much like the rest of the cannabis industry. However, analysts believe it’s finally moving in the right direction. This comes from ramping up its Canadian adult-use cannabis market share and an improved cash flow. And this comes before second-quarter results next week.

The cannabis stock is insanely cheap for those looking to get in on cannabis stocks with little risk of huge losses. Shares trade at $0.23 right now and are expected to triple by the end of the year. It could also be a prime target as an acquisition to increase Canadian production. So, definitely keep an eye on this stock.

Real Matters

Real Matters (TSX: REAL) recently went into oversold territory, now with a relative strength index of 19.59. And it continues to sink as of writing. Yet there really isn’t a good reason for it. Recent earnings for the mortgage and lending software company saw 9.6% year-over-year revenue growth, with management believing strong future growth is ahead from its U.S. Title business.

In fact, analysts believe the stock could more than double in the next year and beyond. This makes it one of the best Canadian stocks to buy right now while it trades so low. In fact, with an economic rebound a real estate boom is likely underway, so it’s the perfect time to pick up Real Matters in the meantime.

Score Media

Score Media and Gaming (TSX: SCR)(NASDAQ:SCR) was one of the best Canadian stocks to buy, even with a higher share price. Analysts believed it either a “buy” or “outperform” from recent moves in the gaming industry. SCR stock is likely to see an increase in revenue from single-day betting, along with its move onto the NASDAQ.

Today, that remains true, but it’s because SCR stock is set to be acquired by Penn National Gaming. The US$2 billion cash and stock deal will pick up the third-most popular gaming app in North America and Canada’s number one app for Penn. Shares in SCR stock more than doubled from the announcement but could continue rising.