Despite volatility over the past few days, Canada’s equity market continues to rise, S & P / TSX Comprehensive Index This month it was up 3.6%. In the optimistic view of investors, here are four Canadian equities that can outperform the broader equity market over the next three years.
The chill in oil prices in the fear of the third wave of COVID-19 cases is being dragged globally Suncor Energy (TSX: SU)(NYSE: SU) Stock prices have fallen about 10% from their recent highs. Despite short-term weaknesses, the company’s outlook looks sound as oil demand is expected to recover amid improved economic activity and economic expansion. With an integrated business model and long-lived, low-declining assets, the company is well-positioned to take advantage of rising oil prices.
In addition, Suncor Energy management expects production and refinery utilization to increase this year, while operating costs may decrease. Higher oil prices and improved investment indicators could improve margins and earnings in the coming quarters. The company also pays a quarterly dividend, with a future dividend yield of 3.2%.
Lightspeed POS (TSX: LSPD)(NYSE: LSPD) It has lost more than 28% of its share price since its recent highs. The sale of high-growth tech stocks in the hope of returning to pre-pandemic methods in the midst of high valuation concerns and the promotion of vaccination has lowered the company’s share price.
However, the growth outlook for Lightspeed POS looks sound. Many companies are migrating to omni-channel solutions in a pandemic, creating long-term growth potential for Lightspeed POS. In addition, the company has adopted an aggressive acquisition strategy to strengthen its competitiveness and expand its geographical footprint. It has also recently raised US $ 676.2 million and has the potential to support growth initiatives.So, given its high growth prospects, I believe Investors need to take advantage of the sale to accumulate stock For higher returns.
Cannabis stocks have been under pressure for the past few weeks in fear of speculative trading. Canopy growth (TSX: WEED)(NYSE: CGC) It lost nearly 44% of its share price from its 52-week high. Given that the cannabis market is expanding amid increasing legalization and its growth initiatives, pullbacks offer excellent buying opportunities.
Canopy Growth management has set a promising outlook for the next three fiscal years. Management expects the top line to grow at a CAGR of 40-50% during this period. Adjusted EBITDA will turn positive in the second half of 2022 and may reach an adjusted EBITDA margin of 20% by 2024. $ 1.59 billion in cash and cash equivalents As of December 31, Canopy Growth is in a good position to fund its growth initiative.
After achieving an impressive return of nearly 110% in the last two years TransAlta Renewables (TSX: RNW) Stock prices have fallen 6.8% this year, putting pressure on them. However, the company’s growth outlook looks sound. TransAlta Renewables is considering strengthening its footprint in Canada, Australia, and the United States.
The company has completed the acquisition of three facilities in the United States and is working to increase its production capacity by 303 megawatts. In addition, the project under evaluation is approximately 2.9 gigawatts. Therefore, given its sound growth outlook and sector tailwinds, TransAlta Renewables could outpace the broader equity market over the next three years. The company also pays a monthly dividend of $ 0.07833 per share with a future dividend yield of 4.6%.
On the other hand, check the following report for the top 10 stocks to buy this month.
Well-known Canadian investor Ian Butler has nominated 10 shares for Canadians to buy today. So if you’re tired of reading about getting rich in the stock market, today may be a good day for you.
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This article represents the opinion of a writer who may disagree with the “official” recommendation position of the Motley Fool Premium Services or Advisors. We are Motley! Asking investment treatises, even our own treatises, can help you think critically about your investment and make decisions to be smarter, happier, and richer. As a result, we may publish articles that may not match recommendations, rankings, or other content. ..
Motley Fool is Lightspeed POS Inc. I own a stake in. Fool contributor Rajiv Nanjapla does not have a position in any of the shares mentioned.
Did you get $ 2,000?Buy these four Canadian stocks for a good return
https://www.fool.ca/2021/03/31/got-2000-buy-these-4-canadian-stocks-for-superior-returns-2/ Did you get $ 2,000?Buy these four Canadian stocks for a good return