The Canadian stock market has had an interesting year. After hitting new highs once again in August despite geopolitical risks and uncertainties, the S&P/TSX Index is giving some of that back. Yet many Canadian stocks are also touching new highs this year.
Let’s take a look at two of the best Canadian stocks to buy that I think are just getting started along their paths higher.
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Altagas
In 2026, Altagas Ltd. (TSX: ALA) stock hit highs of almost $57 as the company continued to benefit from strength in both its utilities and midstream segment. Recall that Altagas is a Canadian energy infrastructure company that operates in two segments, its utilities segment and midstream segment.
The first half of 2026 was record-breaking for Altagas stock. Normalized earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 14% to $391 million. Furthermore, Altagas’ earnings per share (EPS) increased 15% to $0.31.
These results reflect strength in both of Altagas’ segments. This strength prompted the company to increase its 2026 EPS guidance by 6% and EBITDA guidance by 4%.
Looking ahead, Altagas will continue to benefit from the Middle East disruption, which has increased demand for Canadian energy exports. Thus, Altagas is seeing growing demand from China along with very strong demand from its traditional markets of South Korea and Japan. Furthermore, Altagas is seeing incremental demand from other Asian countries.
Accordingly, Altagas is busy expanding its export facilities to meet this accelerating demand, as the value of stable energy supply from politically and physically safe sources is more evident than ever. Simply put, the Iran war has reinforced Canada’s value as a safe long-term partner in business. Countries are now flocking to it. Canadian stocks are benefiting.
Altagas remains attractively valued given the many opportunities ahead of the company. For dividend investors, Altagas has a growing dividend and is currently yielding a respectable 2.5%.
Cineplex
Cineplex Inc. (TSX: CGX) is a different case altogether. In fact, Cineplex stock is a recovery story that has been gaining traction in 2026, allowing the company to post record-breaking results.
Recovering attendance and box office revenues are driving Cineplex’s revenues and earnings higher. In the second quarter, the company posted a 9.8% increase in revenue to $383.7 million. This was the highest second-quarter total revenue in the company’s history. In August, Cineplex’s box office revenues of $98 million were the highest monthly box office performance of all time.
As you can see, there’s something good going on with this Canadian stock. The momentum has been building for a while now, but this year it seems to have accelerated. Moviegoers are back, the film slate is strong, and Cineplex’s efforts to diversify and enhance its entertainment offering are striking a chord with Canadians.
This momentum is driving the analyst community to increase its EPS forecasts on Cineplex stock. 2026 EPS is now expected to come in at $0.40 and 2027 EPS is now expected to be $0.63. This compares to a loss of $(0.58) in 2025.
Looking ahead, as the momentum of Cineplex’s results continues to build, the company will be able to further reduce its debt, continue to buy back its shares and ultimately reintroduce its dividend. In my view, these catalysts will drive Cineplex’s stock price higher in the months and years to come.
The bottom line
The two Canadian stocks I’ve discussed in this article are among the best to buy. Their businesses are truly building momentum and their stock prices are reacting accordingly. As the year goes on, this momentum will likely drive these stocks to new highs.
