As we turn the page on another month (boy, that was fast! It feels like New Year’s was yesterday…), investors looking to do some additional rebalancing for their long-term portfolios may be looking at new opportunities to consider with one month down in the books in 2026.
That’s fair, considering there’s still time to contribute to key funds such as a Registered Retirement Savings Plan (RRSP). Some amount of capital will continue to be put to work in the first quarter (Q1). So, whether you’re looking to put some capital to work today, or research new opportunities to consider this year, this piece will have you covered.
Here are three companies that are right near the top of my watch list in February 2026.
Alimentation Couche-Tard
One of my top defensive picks in the market right now for investors who are a bit unnerved by the increasing volatility and uncertainty we’re seeing in some asset classes is Alimentation Couche-Tard (TSX:ATD).
That’s partly due to the underlying business model Couche-Tard provides investors with — the ability to own a slice of a growing gas station and convenience store empire. This stable cash flow-producing empire has continued to produce solid results for investors who have continued to buy shares of ATD stock.
Roughly doubling over the past five years, I’d suggest to readers that Couche-Tard’s down move since early 2024 provides an excellent entry point today. That’s due in part to the company’s historically low price-to-earnings multiple of just 19 times, with an excellent balance sheet and future acquisition potential likely to take this stock much higher over the long term.
For those looking for an asymmetric defensive bet in this market environment, Couche-Tard remains a top pick of mine right now.
Celestica
Insofar as Canadian AI stocks are concerned, Celestica (TSX:CLS) takes the cake as the top pick in this sector, in my view.
Shares of CLS stock have been on a tear over the course of really any time frame. Looking at the five-year chart of CLS stock above, the roughly five-fold move made over the past five years is a testament to the sheer amount of investor demand for world-class operators in the AI space.
With one of the most robust business models of any Canadian AI stock, and a valuation that’s not cheap by any stretch of the imagination (but still much cheaper than many U.S. peers), I see a relative value trade to owning Celestica in February.
For those looking to go a bit further out on the risk spectrum, this is one of my top ideas in February for how to do so.
Fortis
Last, but certainly not least on this list of top buying opportunities in February, is utility giant Fortis (TSX:FTS).
Shares of the electricity and natural gas power distribution company have continued to march higher over the course of the past year. That’s no surprise, given the sheer amount of electricity and natural gas demand which is anticipated due to the rise of AI and data centers all over North America.
Serving one of the lowest-cost areas in North America from a price/watt basis, Fortis has a relative growth advantage over other utility majors. And with one of the best dividend-growth track records in this sector (more than five decades of consistent annual dividend increases), Fortis is one of those “forever” dividend stocks I think is worth buying on any dip.
Now, this stock hasn’t dipped in some time, consistent with a pervasive market view that utility stocks will continue to outperform from here. I agree with that view, which is why I still think this stock is worth buying near all-time highs.
