It’s not every day that a high-conviction stock crosses our paths. These are stocks that look forward to a long runway of growth in booming industries, with clear competitive advantages and solid management teams and strategies. The best ones have all of these attributes. And while having these attributes is by no means a guarantee of success, they are a great starting point. Investors can buy a basket of these high-conviction stocks to diversify the risks. If just one of them pumps out 10X returns, it will be a success!
Please read on as I discuss three high-conviction stocks that I think have the potential to increase 10-fold by 2036.
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BlackBerry: A high-conviction tech stock
BlackBerry (TSX: BB) is one of Canada’s most promising tech stocks today. But BlackBerry has had a difficult past, and this seems to cloud investors’ perception of the name. Understandable, but let’s review the state of things today as BlackBerry leads the way to a world of connected cars.
Here are some facts. BlackBerry’s embedded software is in the vast majority of connected cars, with 275 million vehicles on the road powered by BlackBerry’s QNX. Also, in the company’s latest quarter, the third quarter of fiscal 2026, BlackBerry posted results that demonstrate its progress on the financial front as well.
Adjusted earnings per share (EPS) came in at $0.05 compared to $0.02 in the same quarter last year, and above expectations. Also, BlackBerry reported operating cash flow of $17.9 million, which was up from $3.4 million sequentially and up 200% versus the prior year.
Finally, BlackBerry’s QNX division posted record results. Looking ahead into 2026, management stated that the momentum is strong and they expect this to translate into strong backlog and orders.
Peyto
Peyto Exploration and Development (TSX: PEY) is one of Canada’s lowest-cost natural gas producers. The company boasts top-quality, long-life assets that have driven its low-cost and reliable production profile.
The Canadian natural gas industry is experiencing what I like to call a seismic shift. The Canadian liquified natural gas (LNG) industry is finally ramping up, with the ramp-up of LNG Canada. Also, Canadian natural gas is in high demand globally. Finally, industries are electrifying their operations and data centres are emerging, which means that utilities are buying more natural gas to increase their electricity generation.
Peyto will be a beneficiary of this over the next many years. In Peyto’s most recent quarter, production increased 8%, earnings per share (EPS) increased 65%, and funds from operations increased 22%.
Well Health Technologies
The last high-conviction stock I’d like to cover is Well Health Technologies (TSX: WELL).
Well Health is Canada’s biggest digital healthcare company. Its focus has narrowed in on the Canadian primary care industry — a very fragmented market. Well Health is in the process of acquiring many of these primary care businesses and revamping them to digitally connected practices that provide greater efficiencies and patient care.
Well Health’s footprint is larger than the next five combined, but Well Health’s market share is less than 2%. So, Well Health is seeing accelerating growth in this business. Simply put, doctors are embracing the company’s tech-enabled healthcare delivery, as it increases efficiency, frees up time for doctors, and improves the care of their patients.
In Well Health’s third quarter, revenue increased 56% to $365 million, and adjusted EPS came in at $0.06, compared to a loss of $0.33 in the same period in 2024. And free cash flow came in at $31.2 million.
