The equity markets are currently navigating a period of heightened geopolitical uncertainty. At the same time, concerns about high inflation and pressure on consumer spending are creating additional challenges. Despite these headwinds, several high-quality TSX stocks remain compelling opportunities. In particular, a number of fundamentally strong companies are still trading under $50 and have room to run.
Many of these Canadian stocks are positioned to benefit from durable demand trends and solid execution.
Against this backdrop, here are two TSX stocks trading under $50 with significant upside.
Source: Getty Images
Under $50 TSX stock #1: Bird Construction
Bird Construction (TSX: BDT) is one of the top TSX stocks trading under $50 with significant upside. The company is a leading construction and maintenance provider in Canada, with operations spanning civil infrastructure, industrial projects, and defence-related work, segments that tend to benefit from sustained government and institutional investment.
Over the past three years, Bird Construction has delivered exceptional returns to shareholders. The stock has generated total gains exceeding 395%, representing an average annualized return of more than 70%. Despite macroeconomic pressures affecting parts of the broader construction sector, the company has continued to demonstrate operational resilience while positioning itself for future expansion.
Supporting Bird’s growth outlook is its substantial project pipeline. In 2025, the company reported a combined backlog and pending backlog of more than $11 billion. This large order book provides significant revenue visibility over the coming years and reflects strong demand across its core markets. Much of this demand is driven by structural factors, such as increased public infrastructure spending, energy transition initiatives, and government-backed defence projects, which generate stable, multi-year project activity.
Financially, Bird Construction maintains a solid balance sheet, which enhances both stability and strategic flexibility. Its capital position allows management to pursue selective acquisitions that expand its target market and strengthen long-term growth prospects while maintaining financial discipline.
Overall, Bird Construction’s robust backlog, exposure to Canada’s infrastructure expansion, and long-term revenue visibility position the company as a compelling investment opportunity with meaningful upside potential.
Under $50 TSX stock #2: SECURE Waste Infrastructure
SECURE Waste Infrastructure (TSX: SES) is another attractive long-term stock that is trading under $50. The company operates across waste management and energy infrastructure, delivering services that support recurring revenue streams and consistent cash flows. This business model provides resilience and stability across market cycles, positioning it for long-term growth.
SECURE Waste shares have grown at an average annualized rate of approximately 55% over the past three years, generating total gains exceeding 272%. SECURE’s growth reflects strong operational performance and investor confidence in the company’s long-term strategy.
Recent tariff-related uncertainty has weighed on the company’s metals recycling segment, but these pressures are temporary. SECURE Waste continues to benefit from strong momentum in its core waste management and infrastructure businesses, which remain the primary growth drivers for the company.
In addition, SECURE Waste maintains a pipeline of long-duration infrastructure projects that are expected to support sustained expansion. As these projects become operational, they are expected to meaningfully contribute to earnings, with a notable increase in adjusted EBITDA anticipated beginning in 2026.
Looking ahead, SECURE plans to continue investing in high-return organic growth opportunities while expanding its infrastructure network to meet rising customer demand. At the same time, a potential recovery in the metals recycling segment could provide incremental earnings support and further strengthen overall growth prospects. Together, these factors position SECURE Waste Infrastructure to deliver attractive long-term returns for investors.
