TSX stocks remained stuck in range trading on Friday ahead of the extended Canadian thanksgiving weekend. The TSX Composite Index ended the session without any change from the previous day’s closing. Despite strength in energy, metals mining, and financial sectors, falling shares of tech, industrials, and healthcare companies pushed the index downward. On the positive side, the Canadian market benchmark rose by 1.3% for the week, marking its first positive week after declining for the previous four weeks in a row.
TSX today
Canadian stocks are expected to open on a mixed note Tuesday, October 12. While the ongoing rally in oil and base metal prices could help Canadian energy and mining stocks inch up, a consistent weakness in the U.S. stocks could keep investors cautious. Canadian investors can also eye on August month U.S. job opening data scheduled to be released this morning. Here are three top TSX stocks that investors can eye today.
Lightspeed stock
The shares of Lightspeed Commerce (TSX:LSPD)(NYSE:LSPD) continued to post massive double-digit losses last week. Its stock plunged nearly 13% last week after losing 19% of its value in the previous week. The recent short-seller report is clearly continuing to hurt Lightspeed investors’ sentiments. Also, the news of several private law firms starting their investigation to verify the report’s claims are adding negativity.
Given all these factors, Lightspeed stock is likely to remain highly volatile in the near term.
Dye & Durham stock
Dye & Durham (TSX:DND) stock was also among the top losers on the TSX Friday. The stock fell by about 6% in the last session, as the company announced the recapitalization of its credit facilities. The Canadian tech company entered a new senior secured credit facility worth about $1.8 billion. It plans to utilize the funds from this credit facility to repay the amounts outstanding under its existing term loan facility.
Following this recapitalization news, Canaccord Genuity slashed its target price on DND stock from $60 per share to $55 on Monday. This downgrade could continue to keep Dye & Durham stock under pressure.
Suncor Energy stock
Suncor Energy (TSX:SU)(NYSE:SU) stock was among the top TSX gainers in the last session, as it rose by about 3% for the day. Interestingly, it was the fourth consecutive week when SU stock posted solid gains, extending its year-to-date rally to 35%.
Strengthening oil prices amid surging energy demand could drive strong growth in Suncor Energy’s financials this year. That’s why investors may want to keep it on their watchlist and consider buying it on dips.
