Even as the broader TSX index continues to hit fresh record highs in 2026, several Canadian stocks trade at discounts relative to consensus estimates. In this article, I have identified two top Canadians stocks to buy with $10,000 right now.
Is this blue-chip Canadian stock undervalued?
Valued at a market cap of $76 billion, Thomson Reuters (TSX:TRI) is a global content and technology company. Over the past decade, the TSX stock has returned more than 300% to shareholders, after adjusting for dividend reinvestments. Despite these market-beating gains, TRI stock trades 42% below all-time highs, allowing you to buy the dip.
Under CEO Steve Hasker’s leadership, the information services giant has accelerated product innovation at an unprecedented pace. A focus on innovation should help the company create sustainable competitive moats amid an evolving landscape.
TRI’s flagship Westlaw platform is gaining traction in the era of generative AI. Thomson Reuters benefits from two critical moats that competitors struggle to replicate.
- First, its unmatched content library provides the broadest and deepest repository of legal information.
- Second, and perhaps more significant, is its team of thousands of highly trained legal experts who help train AI agents at every step of the research process.
This expertise enables Thomson Reuters to break complex legal tasks into dozens of precise steps, ensuring accuracy that generic AI tools cannot match.
In 2026, Thomson Reuters estimates revenue growth of 9.5% for its Big 3 segment. While pricing will contribute 3-3.5% of this growth, the rest will be split between volume growth and product upgrades. Tax and accounting show even stronger acceleration potential with targeted growth of 11-13% in 2026.
The company’s tax calculation engines enjoy similar competitive protections as Westlaw, with AI agents now automating workflow tasks around the core engine rather than replacing it. Price increases combined with recent acquisitions like SafeSend and new AI-powered products such as Ready to Advise should drive expansion.
Thomson Reuters invested over $200 million in generative AI development last year, split evenly between operating expenses and capital expenditures. Management plans to maintain similar investment levels in 2026 while also improving Net Promoter Scores, which have roughly doubled since 2021 and now exceed B2B industry averages.
Given consensus estimates, the Canadian stock trades at a 56% discount in January 2026.
This recession-resistant TSX stock is on sale
GFL Environmental (TSX:GFL) delivered exceptional third-quarter (Q3) results, demonstrating the company’s operational excellence despite challenging economic conditions.
In Q3, it reported a record adjusted earnings before interest, tax, depreciation, and amortization margin of 31.6%. Moreover, it grew revenue by 9% year over year in the September quarter.
GFL’s operational improvements extended across all cost categories with notable progress in labour turnover. The waste management giant emphasized that labour turnover has returned to pre-COVID levels in the high teens after spiking above 30% during the pandemic.
It reported a 90-basis-point margin expansion in Q3. However, after adjusting for commodity price impacts, the underlying margin improvement is close to 250 basis points.
In the first nine months of 2025, GFL has deployed $650 million towards acquisitions. Moreover, it projects that deal activity for 2026 will surpass $1 billion.
Given consensus estimates, the Canadian stock trades at a 26% discount in January 2026.
