Many Canadian stocks on the TSX today continue trading far below fair value territory. In fact, many are solid long-term options you can buy for a steal today.
So let’s get right into it with these three Canadian TSX stocks to buy today, and hold for at least the next five years.
Brookfield Renewable stock
First up, I would certainly recommend Brookfield Renewable Partners LP (TSX:BEP.UN) as a strong option for Canadians seeking long-term income. Brookfield Renewable stock remains down 9% in the last year, and almost half of where it was back in January 2021 at all-time highs.
Yet after managing to get through cost restructuring, Brookfield Renewable stock has been climbing upwards once again. The renewable energy company is now one of the largest renewable energy asset managers in the world. Given its exposure to every type of renewable source, it could certainly produce incredible income in a renewable energy future.
So with shares down now, it’s unlikely that they will remain there for long. Plus, you can grab on to a 4.79% dividend yield as of writing. Therefore, there are plenty of reasons to pick up Brookfield Renewable stock on the TSX today.
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Canadian Pacific Kansas City
It has been official for a little while now, but investors interested in the growth from Canadian Pacific Kansas City (TSX:CP) aren’t anywhere near seeing it yet. That’s despite seeing CP stock climb 15% in the last year alone.
The move was on all the excitement, to be honest. We’re still waiting to see what revenue will actually come in from this new revenue producer. But it’s bound to be good. The question is merely how good, and that’s something investors will likely learn over the next several years.
With that in mind, it’s still an excellent time to pick up CP stock on the TSX today. You’re likely to see continued growth during this market recovery, with sustained growth in the years to come.
Constellation Software
Finally, if you have the funds then Constellation Software (TSX:CSU) is certainly another of the TSX stocks to consider. The company has been around for decades, seeing its share price slowly and steadily increase from a stable strategy of acquiring essential software companies.
This strategy has left analysts continuing to see Constellation stock as a buy, even with shares up 46% in the last year alone. It might be a bit overpriced at the moment; however, it’s a strong long-term option that’s seen shares increase 1,807% in the last decade. That’s certainly something any investor should want to get in on.
While not all tech stocks are winners, Constellation stock has certainly proved that it is. And it likely will be today and for at least the next five years in the future. So if you’re looking to get in on the rebound of the tech sector , and perhaps see Constellation stock hit the $3,000 per share mark, now is the time to buy. You could regret it in another five years if you don’t.
