Stocks outperform other asset classes over time, making them top investments for building wealth. The strategy is to focus on top Canadian stocks and hold them for the long term to ride out volatility. Further, one should focus on diversifying the portfolio to spread risk and optimize long-term returns.
Against this background, here are five top Canadian stocks to pick up now. These TSX-listed companies have strong fundamentals and solid growth prospects.
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Cargojet
Cargojet (TSX: CJT) is a top Canadian stock that has solid growth potential. While near-term headwinds, such as softer global trade and weaker international demand, persist, the company is well-positioned to rebound and is likely to benefit from e-commerce tailwinds. The company’s dominant position in Canada’s air cargo market, its efficient fleet, and long-term customer contracts add stability to its financials.
The recent renewal of key agreements with major customers, including Amazon (NASDAQ: AMZN) and DHL, strengthens Cargojet’s outlook by improving earnings visibility and supporting cash flow stability. The company is likely to further benefit from the recovery in shipping volumes and improvement in demand across its charter and Aircraft, Crew, Maintenance, and Insurance (ACMI) operations. Overall, Cargojet is a solid long-term stock trading at attractive price levels.
Bird Construction
Bird Construction (TSX: BDT) is another compelling investment. The construction and maintenance company benefits from a strong presence across key domestic markets, which gives it access to critical sectors and helps ensure reliable financials. Further, Bird’s collaborative contracting model helps it to protect margins even during tougher economic periods.
Its focus on lower-risk projects in key areas such as energy infrastructure, transportation systems, and defence enhances its operational resilience. Bird’s diversified operations and expanding project backlog set the stage for continued growth. With a strong balance sheet that supports future investments, Bird Construction is well-positioned to pursue acquisitions that could further strengthen its market position.
goeasy
goeasy (TSX: GSY) is another top Canadian stock to buy now, offering growth, income, and value. Shares of this subprime lender have fallen significantly from the recent high, due to a short-seller report questioning the company’s accounting practices and credit risk profile. In addition, higher credit-loss provisions, an increase in financing costs, and a strategic pivot toward secured lending weighed on its short-term profitability.
Nonetheless, the company’s fundamentals look solid. Moreover, it is expected to benefit from robust loan demand. Moreover, its diversified funding sources, proven omnichannel strategy, and stable credit performance position it well to expand its customer base while managing risk. Also, its focus on driving operating efficiency will cushion its margins and bottom line. Furthermore, goeasy stock is trading at a discounted valuation, making it a top stock now.
TerraVest
TerraVest Industries (TSX: TVK) is a diversified industrial company with a broad portfolio targeting multiple high-growth end markets. It continues to perform well and is generating steady earnings. While recent tariff announcements have introduced some short-term softness in demand, TerraVest’s focus on domestic manufacturing adds support. Further, its recent acquisitions are expected to reap benefits next year.
Further, ongoing investments in manufacturing efficiency and product expansion strengthen its competitive position. Looking ahead, its strong balance sheet positions it well to pursue strategic acquisitions, supporting long-term growth and shareholder value.
Shopify
Shopify (TSX: SHOP) is a reliable long-term stock as the Canadian technology giant continues to benefit from the tailwinds of the ongoing shift towards multi-channel selling platforms. Further, Shopify continues to attract merchants of all sizes, including large global brands, which boosts its revenue.
Shopify has also diversified its revenue streams to boost growth. It is expanding rapidly in offline retail and a fast-growing business-to-business market. Further, the ongoing rollout of artificial intelligence (AI)-driven tools, focus on product innovation, improving efficiency, and delivering sustainable earnings position the company to generate attractive long-term returns.
