3 of the Best Canadian Stocks to Buy Right Now

These three impressive Canadian companies are among the best stocks to buy for your portfolio ahead of 2026.

| More on:

Source: Getty Images

Key Points

  • Three TSX picks to buy now heading into 2026: Brookfield Renewable (BEP.UN) — diversified renewables with ~5.2% yield for long‑term green‑energy growth; Jamieson Wellness (JWEL) — defensive consumer health play with international growth upside; and CAPREIT (CAR.UN) — the largest Canadian residential REIT trading cheaply (forward P/AFFO ~15.8 vs five‑year avg ~23) with ~4.1% yield.
  • Together they give exposure to secular clean‑energy growth, defensive cash‑flow stability, and rate‑sensitive real‑estate value—CAPREIT is the clearest deep‑value opportunity if rates fall as expected.
  • 5 stocks our experts like better than CAPREIT

As we head into the final month of 2025, many Canadian investors are already looking ahead to 2026, trying to decide what the best stocks to buy are right now.

It has been a volatile and uncertain year across global markets, with interest-rate expectations shifting multiple times, trade wars that are still to be resolved, earnings surprises on both sides, and a handful of sectors bouncing back while others continue to lag.

It’s important to remember, though, that through all of that noise, the most important thing long-term investors can do is stay focused on quality companies that can perform well over the long haul.

And the good news for investors is that the TSX is full of strong businesses with reliable earnings, healthy balance sheets, and long-term track records of creating wealth for shareholders.

So, whether you are looking to take advantage of stocks that have dipped, rebalance your holdings before year’s end, shore up your portfolio, or simply put excess cash to work, here are three of the best Canadian stocks to buy right now.

One of the best Canadian stocks to buy heading into 2026

If you’re looking for a high-quality Canadian stock to buy now that’s fairly priced and has years of growth potential ahead of it, I’d strongly consider Brookfield Renewable Partners (TSX:BEP.UN), especially as we head into 2026.

Clean energy stocks have significant long-term growth potential as the world embarks on a decades-long shift to green energy. However, there is also a tonne of growth potential for these stocks in the near term as AI usage sends demand for energy soaring and interest rates on the decline make these stocks more attractive.

And while there are a handful of renewable energy stocks you can consider on the TSX, Brookfield is the largest and the most diversified, has a solid management team, and has access to more capital than any of its peers.

So, with Brookfield offering a dividend yield of 5.2%, it’s certainly one of the best Canadian stocks to buy right now.

A top defensive growth stock

With interest rates expected to decline further in 2026, the hope is that economic activity will pick back up while inflation remains under control.

With so much uncertainty about how the economy will perform in 2026, some of the best Canadian businesses to buy now are defensive growth stocks, like Jamieson Wellness (TSX:JWEL).

Defensive growth stocks are always ideal long-term investments, but they’re especially attractive when the economy is so uncertain.

As a well-known developer, manufacturer and distributor of health and wellness products, Jamieson’s operations are naturally defensive, giving investors a reliable investment to hold should the heightened market volatility and uncertainty persist in 2026.

At the same time, though, Jamieson has exciting long-term potential as it grows its operations organically in Canada and continues to expand internationally.

Therefore, since Jamieson is one of the best stocks in Canada, and a business that’s positioned for any economic environment, there’s no doubt it’s one of the best Canadian stocks to buy now.

A top stock to buy as interest rates fall

Falling interest rates will be positive for stocks all across the TSX, but some of the biggest rallies could come in high-quality REITs that continue to trade cheaply, such as Canadian Apartment Properties REIT (TSX:CAR.UN).

CAPREIT, as it’s known, is the largest residential REIT in Canada, making it an incredibly reliable and defensive investment you can be confident owning for years.

Additionally, it’s also ultra-cheap in this environment, making it one of the best Canadian stocks to buy now, especially before it inevitably recovers.

Currently, CAPREIT trades at a forward price-to-adjusted-funds-from-operations (P/AFFO) ratio of just 15.8 times. That’s well below its five-year average forward P/AFFO ratio of 23 times.

Furthermore, it currently offers a yield of roughly 4.1%. That’s well-above its five-year average yield of just 3.1%.

So, if you’re looking for high-quality Canadian stocks to buy now that could rally significantly in 2026, CAPREIT is one of the cheapest investments on the TSX today.

Fool contributor Daniel Da Costa has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Renewable Partners. The Motley Fool has a disclosure policy.

More on Dividend Stocks

diversification is an important part of building a stable portfolio
Dividend Stocks

The Top 3 Canadian Dividend Stocks I Think Belong in Everyone’s Portfolio

Discover three Canadian dividend stocks offering defensive strength, growth, and high-yield income for any investor portfolio.

Read more »

Canadian Red maple leaves seamless wallpaper pattern
Dividend Stocks

Top Canadian Stocks to Generate Passive Income in 2026

Do you want to generate some safe passive income in 2026? Here's what Canadian dividend stocks to buy and what…

Read more »

Lights glow in a cityscape at night.
Dividend Stocks

1 Magnificent Canadian Dividend Stock Down 11% to Buy and Hold for Decades

Brookfield Infrastructure is a top Canadian dividend stock to own in December 2025, given its growing payout and reasonable valuation…

Read more »

dividend growth for passive income
Dividend Stocks

How to Turn a $20,000 TFSA Into $200,000

Here's how any Canadian can take just $20,000 and turn it into $200,000 or more using the compounding power of…

Read more »

diversification and asset allocation are crucial investing concepts
Dividend Stocks

Invest $15,000 in This Dividend Stock: Create $78 in Passive Income

Given its improving financial performances, healthy outlook, and reasonable valuation, Whitecap is an ideal buy to boost your passive income.

Read more »

Young adult concentrates on laptop screen
Dividend Stocks

How Beginners Can Turn a Pocket-Sized TFSA Into Serious Wealth

Turn a pocket-sized TFSA into wealth: Investing in the XEI ETF for 4.3% monthly dividends and instant diversification could turn…

Read more »

stocks climbing green bull market
Dividend Stocks

Buy Canadian: TSX Stocks Positioned to Beat Global Markets Next Year

Brookfield Corp (TSX:BN) is looking good heading into 2026.

Read more »

hand stacking money coins
Dividend Stocks

3.4% Dividend Yield: I’m Buying This TSX Stock and Holding Forever!

Brookfield Asset Management is a buy on weakness for income, dividend growth, and long-term total returns.

Read more »