The macro uncertainty has weighed on several top TSX stocks. However, this also presents a buying opportunity in fundamentally strong stocks for investors with a long-term outlook. So, if you plan to invest in high-growth Canadian stocks, here are my top three picks.
Top TSX stock #1
Shopify (TSX:SHOP) is one of the top Canadian stocks investors could now consider for solid capital gains over time. This e-commerce company is poised to benefit from the ongoing shift in selling models toward omnichannel platforms and its growing penetration within the retail space.
This multi-channel commerce platform provider is expanding its merchant base by attracting larger, high-volume global brands. Moreover, Shopify’s gross merchandise volume (GMV), a key indicator of e-commerce growth, is growing at a solid pace, driving its revenues. The Canadian tech giant’s profitability is also improving, as it is focusing on increasing its operating income and improving its operational efficiency. Further, it has delivered nine consecutive quarters of positive free cash flow, reflecting its ability to scale profitably.
With more businesses embracing Shopify’s integrated platform and its expanding suite of products, the company is well-positioned to capitalize on the digital shift. It is also well-positioned to capture opportunities in offline retail and B2B (business-to-business) channels, which should further bolster its financial performance. Moreover, international expansion offers a significant avenue for growth, as markets outside North America are growing rapidly.
Top TSX stock #2
Shares of fashion retailer Aritzia (TSX:ATZ) look compelling near the current price levels. Although the stock has dropped around 25% in one month due to tariff concerns, the company’s fundamentals remain solid, indicating that the recent dip is a buying opportunity.
Aritzia has consistently delivered strong top and bottom-line growth, driven by its focus on exclusive fashion brands, new boutique openings, presence in high-growth markets, and an efficient supply chain. Its impressive financials led to its stock price consistently outperforming the broader market index.
Looking ahead, Aritzia is focusing on new boutique openings, particularly in the U.S., which will likely expand its retail space, strengthen brand recognition, and boost revenue. Meanwhile, its expansion of omnichannel capabilities will further accelerate its growth.
The company aims to open eight to 10 new boutiques annually in the U.S. through fiscal 2027. Though trade and tariff restrictions might hinder Aritzia’s near-term growth plans, the company still projects its revenues to increase at a mid-teens rate annually through fiscal 2027. Leverage from higher sales and Aritzia’s focus on operational efficiency and cost management will further support its profitability, driving its share price higher.
Top TSX stock #3
Celestica (TSX:CLS) is a leading manufacturing, hardware platform, and supply chain solutions provider. The Canadian company is thriving thanks to strong demand from Hyperscaler customers within its Connectivity & Cloud Solutions (CCS) segment. In particular, Celestica’s networking products under its Hardware Platform Solutions (HPS) business have been a significant growth driver, propelling its stock to impressive gains.
Despite some recent pressure on its share price due to broader economic concerns, Celestica’s long-term outlook remains compelling. The company is witnessing strong sales of its 400G networking switches, and with the rollout of next-generation 800G switches, demand is expected to accelerate. This product ramp positions Celestica to grow its market share in the rapidly expanding high-performance networking hardware space.
Another significant tailwind for Celestica is the increasing adoption of artificial intelligence (AI). As AI training costs decline, the need for networking hardware is surging. This trend could further boost Celestica’s financial performance and share price in the coming years.
