Growth Stocks
Although growth stock picks can be highly volatile, they can make good long-term investments. They may be well-known stars or quiet gems, but they do share one common attribute—they are growing at a higher-than-average rate within their industry, or within the market as a whole, and could keep growing for years or decades.
And keep in mind that we focus on growth stocks, which have a good long-term history and favourable prospects. We downplay momentum stocks that tend to attract many investors simply because they are moving faster than the market averages, but are liable to fall sharply when their momentum fades.
There’s room for growth stock investing in your portfolio, but make sure you follow our TSI Network three-part Successful Investor strategy for your overall portfolio:
- Invest mainly in well-established companies;
- Spread your money out across most if not all of the five main economic sectors (Manufacturing & Industry; Resources & Commodities; Consumer; Finance; Utilities);
- Downplay or avoid stocks in the broker/media limelight.
Make better stock picks when you read this FREE Special Report, Canadian Growth Stocks: WestJet Stock, RioCan Stock and More.
Read More
Close
Growth Stocks Library Archives
We have singled out three growth Buys for 2024—ones we believe have exceptional prospects for the year ahead. What’s more, each is a market leader, which cuts your risk if the economic outlook softens.
INTACT FINANCIAL, $201.59, is a #1 Power Buy for 2024. The insurer (Toronto symbol IFC; TSINetwork Rating: Average) (www.intactfc.com; Shares outstanding: 175.3 million; Market cap: $35.6 billion; Dividend yield: 2.2%) provides investors exposure to Canada’s largest property and casualty insurer....
INTACT FINANCIAL, $201.59, is a #1 Power Buy for 2024. The insurer (Toronto symbol IFC; TSINetwork Rating: Average) (www.intactfc.com; Shares outstanding: 175.3 million; Market cap: $35.6 billion; Dividend yield: 2.2%) provides investors exposure to Canada’s largest property and casualty insurer....
TOROMONT INDUSTRIES LTD. $115 (www.toromont.comwww.toromont.com) is a buy. The company distributes bulldozers, backhoe loaders and drills, mainly in eastern Canada and the U.S....
The shares of engineering firm Stantec are up over 50% in the past year and hit a new record high of $108.66 in January 2024. That gain is largely due to increased government spending on infrastructure projects in the wake of the COVID-19 pandemic. The company also announced a new strategic plan, which should further spur its earnings—and your returns—over the next few years.
STANTEC INC....
STANTEC INC....
These two firms operate in the highly cyclical real estate industry, which adds risk. However, both are market leaders and continue to make savvy acquisitions. That helps them attract and retain clients during economic slowdowns.
FIRSTSERVICE CORP....
FIRSTSERVICE CORP....
Ottawa continues to pressure Metro and other major food sellers to lower their selling prices, even though the food inflation rate dropped to 4.7% in November 2023 from 11.4% in November 2022. Even if the government forces it to cut prices, the company’s new automated distribution centres will lower its costs and lift its long-term profitability.
METRO INC....
LOBLAW COMPANIES, $127.50, is a buy. The retailer (Toronto symbol L; Shares outstanding: 313.1 million; Market cap: $40.1 billion; TSINetwork Rating: Above Average; Dividend yield: 1.4%; www.loblaw.ca) operates 1,104 supermarkets under several banners, including Loblaws, Zehrs, Provigo, Real Canadian Superstore and No Frills....
CHEVRON CORP. $150 (www.chevron.com) is a buy. The company recently agreed to buy rival oil producer Hess Corp. (New York symbol HES) in an all-stock merger. The deal is worth about $60 billion, including Hess’s debt, which is equal to 21% of Chevron’s market cap (the total value of all outstanding shares) of $283.6 billion....
STARBUCKS CORP. $95 is a buy. The company (Nasdaq symbol SBUX; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 1.15 billion; Market cap: $109.3 billion; Price-to-sales ratio: 3.1; Dividend yield: 2.4%; TSINetwork Rating: Above Average; www.starbucks.com) is a leading seller and roaster of specialty coffee.
In Starbucks’ fiscal 2023 fourth quarter, ended October 1, 2023, sales rose 11.4%, to $9.37 billion from $8.41 billion a year earlier....
In Starbucks’ fiscal 2023 fourth quarter, ended October 1, 2023, sales rose 11.4%, to $9.37 billion from $8.41 billion a year earlier....
TERADATA CORP. $43 is still a hold. The company (New York symbol TDC; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 97.8 million; Market cap: $4.2 billion; Price-to-sales ratio: 2.5; No dividend paid; TSINetwork Rating: Average; www.teradata.com) makes computers and software to capture and store large amounts of data for its clients—individual businesses....
These two producers of medical devices are selling or spinning off smaller operations. That will let them better focus on their main businesses. Although both stocks have dropped lately due to fears that new weight-loss drugs will hurt demand for their products, we feel both will benefit from an aging population.
BAXTER INTERNATIONAL INC....