Top 5 Canadian Stocks to Buy in 2023 And Hold Forever

Are you thinking about investing in Canadian stocks? Looking for advice? Here are some of the best Canadian stocks to buy and make big out of it.

We know investing in stock can be tricky. The market doesn’t like uncertainty, and you never know where things may head. But, if your selection of stock is good, the portfolio can certainly help you with excellent returns.

It is important that you always research the stock and then proceed ahead with the investment. If you hear about a stock, it doesn’t mean that you need to invest in it.

You need to check the company’s existence, history, background, performance, and if there is any future. All these aspects can help you understand whether the company is worth investing in long term or not.

So, if you play your cards right, certainly there is certainly a lot of wealth creation on the way.

So, if you decide to invest in the rising Canadian stock market, then we are here to help you with some of the most promising names where you can consider investing. Let’s check the same out the best Canadian stocks to buy.

Best Canadian Stocks to Buy in 2023

Finally, we are in the primary segment of the write-up, where we are going to talk about the best Canadian stock to buy in 2023. Below are the names that can certainly be on your watchlist so that you can understand why we have asked to consider these for long-term gains. Let’s dive in:

1. Shopify

The first name that comes to mind is Shopify. It was founded in the year 2006, and in 2021 the company revenue crossed $4.6 billion. Shopify is a platform that allows one to get an online platform in the easiest way possible.

It makes the development, designing, and management of web applications easier and more effective. Today, most of the big names in the business are using this platform to develop applications.

So, certainly, it has to be on your watchlist if you are thinking about making big in the long term. Slow and steady, the stock price is growing and is certainly going to get better with time.

2. Transat A.T. Inc.

The next name that comes to mind when one talks about the Canadian stock market has to be Transat A.T.

This company has been in the market for now more than two decades in the business providing transportation services. During COVID-19, the company’s revenue did hit hard, but it still remained strong in the market, and now it is performing again at its best.

With a revenue of $124.8 million in the year 2021, this company is certainly going to get better with time. As the COVID-19 era is coming to an end, things are getting better for this stock, and it is certainly the perfect option for long-term traders.

3. Royal Bank of Canada

The next option that we are going to present is from the banking sector. We are talking about the Royal Bank of Canada. It is one of the most anticipated stocks of the year 2022 and had a revenue of 49.7 billion in the year 2021.

Founded in the year 1864, this bank is now spread across 40 countries and has several wealth management and financial facilities available for all.

So, it certainly has a perfect roadmap that showcases the growth and has become a perfect investment option for the long term. The stock has seen good growth in the last two years and is certainly going to get better in the time to come.

4. Bell Canada Enterprises

Another promising name that you must have on your watchlist has to be Bell Canada Enterprises. It was founded in the year 1880 and had a revenue of $625 million.

It is one of the biggest telecommunication companies in Canada and is known for providing T.V. and Internet services. So, it has a huge consumer base, and the numbers are certainly going to go higher in the time to come.

So, it is wise enough to consider investing in the respective stock as it can help you make significant gains. The stock has seen immense improvement in the last two years and is certainly going to get better in the time to come. s

5. Descartes Systems Group

The last name on our list has to be Descartes Systems Group. This company has been in the business for the last four decades and has a revenue of $349 million. Founded in the year 1981, this company focuses today on cloud-based logistics.

It has been highly acclaimed in the business for the supply chain platform that increases productivity and helps more than 20,000 customers around the world.

So, this company certainly has what it takes to make it big in the time to come. There is no reason why this shouldn’t be a part of your portfolio.

Last Word

These are the best Canadian stocks to buy in 2023. You must keep in your mind if you are thinking about investing in the Canadian stock market. It is important that you do proper research and checks with all the fundamentals of the sector to go ahead with the purchase.

You can always consider taking the advice of financial experts and advisors who can guide you about the best Canadian stocks to buy that can help you have a strong portfolio in the time to come.

Frequently Asked Questions

What shall I invest in Canada right now?

In the last few years, the Canadian economy has been performing significantly, and there is a huge possibility of it getting better with time. So, it is important that you research well and invest in some of the above-mentioned Canadian stocks to buy.

How shall I invest in Canadian stocks?

Today, there are several platforms and applications available that can help you invest in Canadian stocks without any hassle. You just need to register with them and proceed ahead with the trading.

How to find the best financial counsellor?

If you are looking for an expert to guide you with the investments, then you can consider checking with the history, experience, background, communication skills, qualifications, and performance before hiring one for your needs.

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