If you’re a Canadian investor who’s looking to maximize the returns your hard-earned capital is generating in the stock market, there’s no question that some of the best TSX stocks to buy are reliable and defensive businesses.
The best results always come from owning high-quality businesses that can continue to grow and execute for years, even decades.
What’s important to understand, though, is that the top TSX stocks to buy aren’t just companies that are doing well today. They’re businesses with strong competitive advantages, proven management teams, and business models that can keep generating revenue and expanding over time, regardless of short-term economic conditions.
That’s what allows them to compound investor capital consistently for years. As their revenue and earnings continue to grow, so does the value of the business. And over the long haul, that’s what drives stock prices higher.
Furthermore, when you buy businesses that you understand and believe in long term, it becomes much easier to stay disciplined through temporary market pullbacks and macroeconomic headwinds to let compounding continue to do its thing.
So, with that in mind, if you’re looking for top TSX stocks to buy today with long-term growth in mind, here are two high-quality names that stand out right now.
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One of the top TSX stocks to buy now and hold for decades to come.
There are plenty of high-quality TSX stocks offering investors attractive long-term growth potential that you can consider today. However, there’s no question that one of the very best is
Brookfield Renewable Partners (TSX: BEP.UN), especially if you’re looking for exposure to the global transition toward cleaner energy.
Renewable energy is one of the industries in our economies with the biggest and longest growth runway. So, the fact that Brookfield owns and operates a massive portfolio of renewable power assets, including hydroelectric, wind, solar, and energy storage facilities across multiple continents, makes it one of the best stocks you can buy today.
Not only does the industry have significant long-term growth potential as the world continues its decades-long transformation to cleaner energy. But in addition, the assets Brookfield owns are long-life assets that generate steady cash flow, often backed by long-term contracts with governments and large corporations.
That predictable revenue is a big reason why Brookfield Renewable is so reliable. In fact, in addition to the long-term growth potential Brookfield offers, it’s also one of the top dividend growth stocks that you can buy on the TSX today. In fact, right now, Brookfield offers a forward dividend yield of roughly 5%.
Therefore, given its long-term prospects for growth, its dominance in such a high-potential industry and the fact that it offers an attractive and constantly growing dividend, there’s no question it’s one of the top TSX stocks investors can buy now.
One of the best defensive growth stocks in Canada
In addition to Brookfield, another high-quality and reliable TSX stock to buy with long-term growth in mind is Jamieson Wellness (TSX: JWEL).
Jamieson is another reliable defensive growth stock to buy and hold for years because of its status as a leader in the vitamins, minerals, and supplements space, with its flagship Jamieson brand being one of the most trusted names in Canada.
In fact, that brand strength gives it significant pricing power and helps drive repeat purchases from a loyal customer base in one of the most defensive industries in the economy.
For years now, demand for health and wellness products has continued to grow as consumers become more focused on preventative health and overall well-being. That creates a steady tailwind for the business, both domestically and internationally.
Plus, in addition to its core Canadian operations, Jamieson has been expanding into new markets and growing its international segment, which offers significant upside over time.
So, if you’re looking for a defensive Canadian stock that you can buy with confidence, but that also offers years of above-average growth potential, there’s no question that Jamieson is one of the top TSX stocks to buy today.
