3 No-Brainer Buys in November to Hold Forever

These three Canadian stocks to buy are solid options based on past performance, fundamentals, and future outlook for Motley Fool investors.

Motley Fool investors love to find cheap stocks. Who doesn’t? But these Canadian stocks to buy offer more than just a cheap share price. Each provides life-long stability but at a price you can afford now.

The key here is the word stability. What you want are companies that will continue seeing growth no matter what happens in the markets in the next few decades. So, here are my three Canadian stocks to buy on the TSX today.

Air Canada

Right now, Air Canada (TSX: AC) doesn’t look all too stable. But on the back of earnings that showed marked improvement, I would argue it will be. And soon. Air Canada stock saw the company increase revenue by 165% year over year! Not only does this look encouraging for the future, but bookings seem to be headed towards pre-pandemic levels, according to management. That makes it one of the top Canadian stocks to buy as it bounces back.

Yet the stock remains a solid buy around $24 as of writing. For the next year, there is a potential upside of 21% predicted by analysts. And Motley Fool investors may remain confident that aircrafts will be back in the air once more at full capacity. Air Canada stock has proven that it can come back from the depths and restructure before. It’s doing that now for the betterment of investors.

How so? It now has several key components to consider. Air Canada Vacations bookings are up. Aeroplan usage is up. And it now has cargo aircrafts to bring in revenue. These strong revenue streams won’t simply disappear after the pandemic. So, investors can look forward to significant revenue for decades on end, if only they have a bit of patience in the next year or so.

CIBC

Another of the Canadian stocks to buy this month is Canadian Imperial Bank of Commerce (TSX: CM)(NYSE: CM) before earnings a month from now. CIBC stock continues to be a solid choice during a pandemic recovery for its dividend yield.

It’s a stable choice for those wanting a company that’s been around the block a few times. It’s a solid defensive play, that’s upgraded its game over the last few years. It’s one of the top Canadian stocks to buy among bank stocks thanks to its expanding growth in emerging markets, digital growth, customer service, and even a new rebranding.

Motley Fool investors can pick it up with the highest dividend per share at $5.84 among bank stocks. That’s a 3.86% dividend yield as of writing. Shares are up 36% year to date, yet it remains cheap with a P/E ratio of 11.63 and price-to-book ratio of 1.67.

StorageVault

Finally, there are few things that are certain in this world. But for investors in StorageVault Canada (TSXV:SVI), it seems pretty certain that storage will be used eventually. But it’s no longer for just the four Ds of downsizing, divorce, death or dislocation. It’s now an added “B” for business — small business, that is.

StorageVault is one of the top Canadian stocks to buy, as e-commerce drove revenue sky high over the past two years. The company now has a huge business in online small businesses. Merchants use storage to store, sell, and ship their products. And this has been a major benefit to StorageVault.

In fact, the recent news was so good, the company increased its dividend! This came after a 23.3% year-over-year increase in revenue, and AFFO growth of 53.8% thanks to its acquisition strategy. The company still plans to continue this strategy and achieve $130 million in acquisitions in the next quarter.

Yet again, it’s a very cheap stock in every sense. StorageVault is one of the best Canadian stocks to buy on the TSX today with a share price of just $6.50, and stable growth for the future. Shares are up 71% year to date and climbing. With a dividend in the mix, this is one of the top Canadian stocks to buy in November for Motley Fool investors.

Fool contributor Amy Legate-Wolfe owns shares of AIR CANADA. The Motley Fool has no position in any of the stocks mentioned.

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