3 Stocks That Could Make You Richer in 2024

Given their healthy underlying businesses and high growth prospects, I expect these three TSX stocks to deliver superior returns.

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Investing in equity markets is a smart strategy for earning superior returns. However, investors should look for quality stocks. Here are three top Canadian stocks that can make you richer this year.


BlackBerry (TSX:BB), exposed to high-growth sectors such as cybersecurity and IoT (Internet of Things), has been under pressure over the last few years. The weak performances, lack of expected growth in the IoT segment, and uncertain macro environment have made investors nervous, leading to a steep correction. However, the company recently reported impressive first-quarter earnings for fiscal 2025, reigniting investors’ interest.

For the quarter ended on May 31, BlackBerry posted revenue of $144 million, beating its guidance of $130-$138 million. Both Cybersecurity and IoT segments posted solid performances. Its adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) loss of $7 million was also better than the management guidance of $15-$20 million in losses. Besides, it improved its free cash usage for the third consecutive quarter.

Meanwhile, BlackBerry continues to scale its service team. Besides, new design wins, increased penetration of the QNX platform amid the growth in software-defined vehicles, and strategic partnerships could continue to drive its IoT revenue in the coming quarters. Further, the company is witnessing improvement in its annual recurring revenue and dollar-based net retention rate in the cybersecurity segment amid go-to-market changes to its products. So, its growth prospects look healthy.

Since reporting its first-quarter performance, BlackBerry’s stock price has increased by 11.2%. However, it is substantially lower than its 52-week high. Given the renewed interest, healthy growth prospects, and discounted stock price, I am bullish on BlackBerry.


Through its widespread manufacturing facilities and solid distributor network, Savaria (TSX:SIS) offers a wide range of accessibility solutions worldwide. The company has delivered around 21% this year amid solid performances, continued acquisitions, and healthy growth prospects.

Savaria’s revenue declined by 1% in the March-ending quarter, primarily due to the divestment of Van-Action, Freedom Motors, and its Norway operations. Meanwhile, its organic revenue grew by 2.6%. Besides, its adjusted EBITDA grew 11.1% to $37.4 million while expanding its adjusted EBITDA margin by 190 basis points to 16.6%. The organic growth and expansion of gross margin drove its EBITDA.

Further, the uptrend in Savaria’s financials could continue driven by the expanding addressable market, its growth initiatives, and continued acquisitions. The growing aging population and rising income levels have created a multi-year growth potential for accessibility solutions. Besides, the company has adopted the “Savaria One” initiative, which focuses on developing innovative products and achieving price optimization, thus expanding its market share. The company recently acquired the dumbwaiter and material lift assets of D.A. Matot, which generated $8.6 million in revenue and $1.5 million in EBITDA last year. Considering all these growth prospects, I believe Savaria will deliver superior returns this year.

WELL Health Technologies

Third on my list would be WELL Health Technologies (TSX:WELL), which develops products and services to support healthcare professionals in positively impacting patient outcomes. Digitization of patients’ records, adoption of virtual healthcare services, and increased usage of administrative tools by clinics to streamline their operations have expanded the company’s addressable market. 

Meanwhile, WELL Health is investing in artificial intelligence (AI) to develop innovative products and enhance the features of its existing products. So, the company is well-positioned to benefit from the expanding addressable market. Management projects the company’s top line and adjusted EBITDA to grow by 25% and 12.4%, respectively, this year. Despite its healthy growth prospects, WELL trades at 1.1 times its projected sales for the next four quarters, making it an excellent buy right now. 

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.

Fool contributor Rajiv Nanjapla has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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