The Canadian equity market has shown resilience despite ongoing geopolitical tensions and trade-related uncertainties. Over the past year, TSX stocks have delivered strong gains, with the S&P/TSX Composite Index continuing its upward trajectory. This momentum has been supported by a low-interest-rate environment, resilient consumer spending, a strong rally in basic materials, and growing investor enthusiasm around artificial intelligence (AI).
Looking ahead to 2026, these conditions are likely to remain broadly supportive, particularly if interest rates stay lower for longer. In addition, several Canadian companies stand to benefit from sector-specific tailwinds that could further enhance returns.
Within this context, here are my top stocks to buy for 2026. These fundamentally strong companies are experiencing robust demand and are well-positioned to deliver significant returns in the long run.
My top stocks: Celestica
Celestica (TSX:CLS) is a top TSX stock to buy for 2026 and beyond, supported by its growing role in data centre infrastructure and advanced technology solutions. The company is benefiting from sustained global spending on AI, cloud, and hybrid cloud infrastructure, which continues to accelerate.
A key driver of Celestica’s momentum is its exposure to high-growth markets, particularly AI-focused data centres. Demand for its Hardware Platform Solutions (HPS) has been steadily shifting its business toward more complex, higher-value engagements. These projects rely heavily on Celestica’s design expertise and close collaboration with customers, strengthening relationships while improving margins.
Operationally, rising production volumes are improving operating leverage across Celestica’s global footprint. Ongoing investments in productivity and efficiency are enhancing profitability, while the company’s diversified manufacturing and supply chain network provides resilience amid geopolitical and trade uncertainty. North America remains a particularly strong region, prompting continued expansion in Texas to support large-scale production of advanced AI racks for hyperscale customers.
Within its Connectivity & Cloud Solutions (CCS) segment, Celestica is experiencing robust demand for data center networking equipment, supported by multiple 800G program ramps and new AI-driven workloads from hyperscalers.
Looking ahead, management’s 2026 outlook calls for revenue of approximately $16 billion and adjusted earnings per share of $8.20, representing strong double-digit growth. With customer investment in AI infrastructure expected to extend into 2027, Celestica’s long-term growth trajectory appears both durable and compelling for investors seeking exposure to the next phase of data centre and AI expansion.
My top stocks: 5N Plus
5N Plus (TSX:VNP) is another compelling TSX stock to buy for 2026. The company is witnessing strong demand from several rapidly expanding industries, which positions it well to deliver solid financial results and, in turn, support its share price.
5N Plus specializes in advanced semiconductors and high-performance materials. These highly specialized products are essential inputs across a diverse range of end markets, including renewable energy infrastructure, space and satellite systems, pharmaceuticals, medical imaging, and industrial applications. As global investment in clean energy, space technology, and advanced healthcare continues to rise, demand for the company’s materials is expected to grow.
This favourable demand environment is already being reflected in the stock’s performance, with shares posting meaningful gains. Importantly, the growth outlook suggests there is still room for further upside through 2026. A key driver has been the Specialty Semiconductors segment, where demand from terrestrial renewable energy projects and space-based solar power applications remains strong.
The company has also expanded a supply agreement with a major strategic customer, a development that is expected to materially increase shipment volumes over the next several years. In addition, 5N Plus continues to benefit from a robust pipeline of space power projects.
Overall, 5N Plus is an attractive stock to buy and hold for 2026 and beyond.
