With 2022 less than a week away, if you haven’t begun to think about the best Canadian stocks to buy for your TFSA, it’s time to start.
There are a variety of high-quality stocks to consider. For example, there are plenty of high-quality growth stocks that continue to offer excellent opportunities in 2022. There are also a few high-quality stocks that are trading extremely undervalued. So, if you’re looking for the best Canadian stocks to buy for your TFSA in 2022, here are three of the top companies to consider.
A top Canadian financial stock to buy for your TFSA in 2022
If you’re looking for one of the best Canadian stocks to buy as we head into 2022, Manulife Financial (TSX: MFC)(NYSE: MFC) is an excellent company to consider.
First off, it’s considerably cheap and offers an attractive dividend yield of roughly 4.7%. Plus, as interest rates are expected to start increasing again in 2022, Manulife should see a significant benefit to its operations.
The stock has been cheap for some time as the pandemic has impacted the global economy, and interest rates in North America have been ultra-low. Now, though, as the economy is starting to recover, Manulife offers investors a tonne of upside.
And in addition to this short-term potential, Manulife also offers years of long-term growth potential as it looks to expand its business in Asia. So, it’s not just one of the best Canadian stocks to buy for your TFSA; it’s one of the best opportunities for investors in 2022.
The average target price from analysts even sits at $31.80, a more than 33% premium to today’s share price. So, if you’re looking for one of the best Canadian stocks to buy for your TFSA in 2022, Manulife and its attractive dividend is a top choice.
Cryptocurrency stocks are some of the best to buy for 2022
With the recent boom in the cryptocurrency industry, and the significant potential for the space to continue to gain popularity, crypto stocks are some of the best Canadian investments to buy for your TFSA in 2022.
There are several crypto stocks to choose from. One of the best, though, has to be Voyager Digital (TSX: VOYG). Voyager has two main segments of business, both of which offer tonnes of long-term growth potential.
What it’s most known for is its platform that allows users in the U.S. to trade over 60 of the most popular cryptocurrencies and earn a yield on many of those crypto assets. This is a business that should continue to grow as more investors look to buy cryptocurrencies.
However, through its subsidiary Coinify ApS, Voyager also provides cryptocurrency payment solutions around the world. Paying with cryptocurrencies is an industry with massive growth potential, making Voyager Digital one of the best Canadian crypto stocks to buy for your TFSA in 2022.
As with any crypto stock, though, it’s still highly correlated to the cryptocurrency market. So, lately while the major cryptocurrencies have pulled back slightly, Voyager is now roughly 50% off its 52-week high.
Therefore, if you’re looking for a high-potential growth stock, Voyager is one of the best crypto stocks to buy now.
A high-potential tech stock to buy dirt cheap
Another high-potential growth stock that trades extremely cheap today is AcuityAds Holdings (TSX:AT)(NASDAQ:ATY).
The AdTech stock has underperformed significantly in 2021, but it offers tremendous upside for investors who are willing to buy and hold. After a slower-than-expected adaption from clients of AcuityAds’ new proprietary platform, the stock has sunk from a high of $33 back in February to just $5 today.
Its slower-than-expected growth caused it to miss estimates, but also be re-rated lower by the market, which has caused a massive selloff in the price of shares. However, with the pandemic hardly impacting advertisers anymore and AcuityAds now having more time to bring new customers on board, there is a tonne of potential for it to rally in 2022, making it one of the best Canadian stocks to buy for your TFSA.
In addition, it’s already so cheap, there is hardly any downside, which is why it’s an excellent stock to consider today.
