3 TSX Stocks That Could Keep Soaring After This Record Rally

The TSX just hit new highs, but these three stocks still have plenty of fuel in the tank.

Following a historic run that pushed the TSX to record levels earlier this week, it’s natural for investors to question what comes next. While broader valuations may be stretched in some sectors, several TSX-listed stocks continue to display fundamental strength, earnings consistency, and growth catalysts for the long term. These companies aren’t just benefiting from the momentum; they’re driving it.

In this article, I’ll highlight three top TSX stocks with the potential to continue delivering gains, supported by resilient financial metrics and strong growth prospects.

3 colorful arrows racing straight up on a black background.

Source: Getty Images

NFI stock

Let’s kick things off with NFI Group (TSX: NFI), a stock that’s been gaining attention for all the right reasons. If you don’t know it already, it’s a leading bus and coach manufacturer based in Winnipeg, offering a wide range of electric and fuel cell-powered vehicles. After rallying 31% over the last four weeks, NFI stock is currently trading at $14.81 per share, giving it a market cap of $1.8 billion.

In its latest quarter, NFI saw revenues climb 16.4% YoY (year over year) to US$841.4 million with the help of a surge in its zero-emission bus deliveries and stronger pricing on heavy-duty vehicles. It even turned a US$15.6 million loss into a US$2.9 million adjusted net profit, reflecting the strong turnaround momentum.

What makes NFI even more compelling is its record $13.7 billion backlog, with 36.5% tied to clean-energy buses. Its newly secured $845 million credit facility adds financial flexibility, supporting the company’s plans to scale production and reduce supply chain bottlenecks — setting the stage for more gains down the road.

Brookfield Business Partners stock

Next up is Brookfield Business Partners (TSX: BBU.UN), which has been making some strong moves of its own lately. This company is mainly in the business of owning and operating essential service companies across sectors like industrials, infrastructure, and business services. After surging by 27% in the last four weeks, this top TSX stock is currently trading at $36 per share with a market cap of $5.1 billion.

In the first quarter of 2025, the company’s adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 9% YoY to US$591 million. This growth was helped by contributions from its newly acquired electric heat tracing business and tax benefits tied to its energy storage segment.

Meanwhile, Brookfield continues to recycle capital smartly, invest in acquisitions like Antylia Scientific, and buy back shares. I expect these smart moves to fuel long-term value creation for its loyal investors.

Gildan Activewear stock

Rounding out the list is Gildan Activewear (TSX: GIL). This Montreal-based company makes everyday basics like t-shirts, socks, and underwear under various brands. GIL stock has climbed nearly 45% over the past year and currently trades at $70.10 per share, giving it a $10.6 billion market cap. It also offers a quarterly dividend with an annualized yield of 1.8%.

In the first quarter of 2025, Gildan’s sales rose 2.3% YoY to $712 million due mainly to strong demand for fleece and ring-spun activewear in North America. While its international sales dipped slightly, the company gained market share in key categories. Moreover, the company’s adjusted quarterly EBITDA grew 5.5% YoY with the help of lower raw material costs.

Gildan continues to focus on expanding capacity and launching innovative products like its Soft Cotton Technology. With a $13.7 billion backlog and solid full-year guidance, this top stock could keep pushing the TSX higher.

Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool recommends NFI Group. The Motley Fool has a disclosure policy.

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