Although there’s plenty of optimism for a soft landing in 2025 and a sustained market rally, uncertainty remains, especially with recent tariff developments and interest rates not falling as quickly as some had anticipated. Therefore, this uncertainty makes it essential for investors to ensure that the stocks they add to their portfolio today are some of the top Canadian stocks to buy and hold for the long run.
Ensuring the stocks you buy are some of the best on the TSX requires finding businesses that have both long-term growth potential and reliable operations.
So, if you’ve got some cash on the sidelines you’re looking to invest now, here are three top Canadian stocks you can buy with confidence today.
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One of the best defensive growth stocks in Canada.
If you’re looking for a stock that has significant growth potential yet can also perform well in an underperforming economy, there’s no question that Dollarama (TSX: DOL) is one of the best.
Dollarama has been one of the best-performing stocks in Canada for years, consistently growing both its sales and earnings at a rapid pace. The reason it’s one of the top Canadian stocks to buy is that it’s proven it can thrive in any economic environment, especially when consumers are looking to cut costs.
Furthermore, Dollarama’s ability to consistently expand its operations has been a key driver of its success. In fact, in addition to the same-store-sales growth it sees as more customers look to cut their costs on staples and other essential items, it also continues to open new stores across Canada each year.
Plus, even with the company still growing rapidly in Canada, it also now has a tonne of growth potential in Latin America with its investment in Dollarcity.
Therefore, it’s no surprise that over its last five fiscal years, Dollarama’s revenue has increased at a compound annual growth rate (CAGR) of 10.6% and its normalized earnings per share (EPS) have increased at a CAGR of 16.3%.
And going forward in fiscal 2025 and 2026, analysts estimate its normalized EPS will increase 14.1% and 10.7%, respectively.
So, if you’re looking for top Canadian stocks to buy now, there’s no question Dollarama should be at the top of the list.
One of the best REITs in Canada
In addition to Dollarama, another top Canadian stock to buy now is Granite REIT (TSX: GRT.UN)
Granite owns industrial and logistics properties across North America and Europe, which continue to benefit from the increasing demand for warehouse and distribution space as a result of the consistent growth of e-commerce.
In addition to its long-term growth potential, though, Granite has also proven over the last few years how reliable it can be. In fact, despite headwinds from higher interest rates impacting many companies, Granite has maintained strong occupancy rates and has continued to raise its dividend each year.
Furthermore, not only is its dividend, which currently yields 5%, continuing to increase, but its payout ratio has actually been declining, showing how reliable Granite is as a long-term investment.
So, if you’re looking for top Canadian stocks to buy now, Granite is undoubtedly one of the best to consider.
Utility companies are some of the top Canadian stocks to buy right now
With the consistent uncertainty in the stock market and economy, utility stocks like Emera (TSX: EMA) are certainly some of the top investments Canadians can buy right now.
Emera is one of the best to buy because it has reliable operations that are diversified across Canada, the U.S., and the Caribbean. Plus, not only are utility stocks reliable and some of the least-volatile stocks on the market but their future revenue and income are often highly predictable, making them some of the best dividend stocks you can buy as well.
Furthermore, since Emera invests in expanding its operations and growing its earnings every year, it can also consistently increase its dividend.
So, not only can you buy the stock today and lock in a roughly 5.1% yield, but you can also expect it to continue increasing that dividend annually, which is why it’s one of the top Canadian stocks to buy right now for dividend investors.
