2 TSX Stocks Near Lows to Buy Up Right Now

Looking for growth at a great price? These two TSX stocks offer that up in spades. As long as you can be a patient investor.

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If you’re looking for top TSX stocks, you’ve come to the right place, especially if you’re on the hunt for some bargains. Which is why today we’re looking at BlackBerry (TSX: BB) and Ballard Power Systems (TSX: BLDP) on the TSX. These stocks could be intriguing long-term investments for those willing to ride the wave of innovation.

While BlackBerry reinvented itself from the smartphone days, focusing now on cybersecurity and software for connected devices, Ballard Power is at the forefront of hydrogen fuel cell technology. So if you’re looking to invest in the future, both companies offer exposure to industries with significant growth potential.

BlackBerry

Investing in BlackBerry long term could be a smart move, especially considering the TSX stock’s strategic pivot from its past as a smartphone giant to a leader in cybersecurity and Internet of Things (IoT) solutions. BlackBerry’s strong focus on these high-growth areas is paying off, with their IoT division showing 18% year-over-year revenue growth in the latest quarter.

The TSX stock’s QNX platform, which is deeply embedded in the automotive industry, continues to gain traction, thereby positioning BlackBerry as a key player in the future of connected and autonomous vehicles. With the world increasingly relying on secure, connected technology, BlackBerry’s expertise in these areas makes it well-positioned for future growth.

Furthermore, BlackBerry’s progress toward operational independence for its IoT and Cybersecurity divisions could unlock significant value for shareholders. The TSX stock has exceeded revenue expectations in both segments, thus signalling that its strategy is starting to deliver results. While the stock has faced challenges and remains volatile, the long-term outlook is promising as BlackBerry continues to innovate and expand its offerings. As cybersecurity threats grow and the IoT market expands, BlackBerry’s specialized solutions could become even more critical, thereby potentially driving substantial returns for patient investors.

Finally, BlackBerry’s leadership changes, including the appointment of a new CFO, reflect the TSX stock’s commitment to streamlining operations and driving profitability. With a renewed focus on efficiency and a clear path to profitability in sight, BlackBerry could see a significant turnaround. For investors with a long-term horizon, betting on BlackBerry’s ability to capitalize on its strengths in cybersecurity and IoT could be a rewarding decision, especially as these sectors continue to evolve and grow, and as the stock nears 52-week lows.

Ballard Power

Investing in Ballard Power long term could also be a good idea, particularly if you’re interested in the clean energy revolution. Ballard is a leader in hydrogen fuel cell technology. This is increasingly seen as a crucial component in the transition to renewable energy, especially in heavy-duty mobility like buses and trucks. The TSX stock recently launched its ninth generation PEM fuel cell engine, setting a new industry standard with improvements in reliability, durability, and efficiency. As the world moves towards greener energy solutions, Ballard’s innovative products position it well to capture a growing market share, especially as governments and industries push for lower emissions.

Moreover, Ballard’s strong balance sheet, with $678 million in cash and minimal debt, provides it with the financial stability to weather the current challenges, plus continue investing in its future growth. While the TSX stock is not yet profitable and is facing near-term order variability, its focus on cost reduction and advanced manufacturing could lead to better margins and profitability in the future. The hydrogen economy is still in its early stages. Ballard’s leadership in this space gives it a strong foothold in a market that has significant growth potential over the coming decades.

Despite the recent softness in order intake and revenue challenges, Ballard’s commitment to its long-term strategy, including partnerships like the one with Vertiv for data centre backup power solutions, shows its ability to innovate and expand into new markets. If you’re a patient investor with a belief in the future of hydrogen fuel cells, Ballard Power offers a compelling opportunity to invest in a TSX stock that could play a pivotal role in the global shift towards sustainable energy.

Fool contributor Amy Legate-Wolfe 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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