4 Top Growth Stocks Still on Sale, But Not for Long

Here are the top four growth stocks I would consider.

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The TSX continues to climb, with the possibility of every company on the TSX becoming strong growth stocks for investors to consider. However, there are some growth stocks still on sale that warrant your immediate attention.

These are blue-chip companies that still offer a sale price as the market recovers. And it is recovering, with the TSX up over 10% in the last month alone. In fact, it’s no longer in market correction territory, as it’s down just 8% from 52-week highs.

This offers a smaller opportunity for those wanting a discount on these solid growth stocks. With that in mind, here are the top four I would consider.


Cargojet (TSX:CJT) has seen shares climb and fall over the last five years for a variety of reasons. It announced a partnership with Amazon that’s still going on today and has since been expanded. It also saw growth during the pandemic thanks to the rise in e-commerce use. But with the fall of e-commerce came the fall of the stock. But really, Cargojet stock doesn’t deserve it!

Cargojet stock is now one of the best growth stocks you can consider. It trades at just 13.63 times earnings and recently announced 43.3% growth in revenue year over year. Further, it’s expanding to now include global operations with more international partners. So, Cargojet stock is certainly one you want to consider.

Shares of Cargojet stock are up 10.55% in the last month and down 8.4% year to date.


Bank of Montreal (TSX:BMO)(NYSE:BMO) is another strong option during this recovery for a variety of reasons. During the pandemic, the company used the opportunity due to massive growth to purchase the United States operations of major French bank BNP Paribas. This growth in its international operations is highly coveted for a company that continues to grow its operations.

Yet BMO stock has traded downwards due to the recent financial crisis. This allows investors to use it as an opportunity to pick up growth stocks that will take you far. Given BMO has provisions for loans losses, it should rise back to pre-fall prices imminently. So, it’s a growth stock you’ll want to buy and lock in a 4.12% dividend yield while it trades at just 7.37 times earnings.

Shares of BMO stock are up 14% in the last month and up 1.5% year to date.


Maybe one of the best deals out there comes from Manulife Financial (TSX:MFC)(NYSE:MFC). This stock is well below where it should be on the TSX, making it a growth stock that could explode in 2022. It continues to beat earnings estimates; however, its cash flow has certainly imploded this last year with the rise in interest rates and inflation hurting the company significantly.

Even still, this is likely to rebound. Everyone needs insurance, and when the dust settles, Manulife stock is still a $46 billion company with a lot to offer. For now, it’s one of the growth stocks offering a 5.41% dividend yield trading at 6.24 times earnings. And analysts expect significant growth in the year to come.

Shares are up 10% in the last month and 3% year to date.


Finally, Nutrien (TSX:NTR)(NYSE:NTR) is back in value territory as one of the top growth stocks in 2022. Shares flew up after sanctions against Russia pushed countries to get crop nutrients and potash from other sources. And a huge source was Nutrien stock. However, the economic downturn led to a share drop in Nutrien stock. Now, those shares are coming back up.

As well they should be. Nutrien stock is a great one to hold among growth stocks thanks to consolidating a fractured industry. Its e-commerce arm is soaring, and partnerships and deals continue to come in as the company expands its operations. And yet it still trades at just 7.46 times earnings with a 2.46% dividend yield!

Shares of Nutrien stock are up 24% in the last month and 25% year to date.

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.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Fool contributor Amy Legate-Wolfe has positions in CARGOJET INC. The Motley Fool has positions in and recommends CARGOJET INC. The Motley Fool recommends Amazon and Nutrien Ltd.

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