Many different stocks can be considered for long-term growth in 2020. However, some of the best Canadian stocks to consider include Royal Bank of Canada (RY), Bank of Nova Scotia (BNS), and Toronto-Dominion Bank (TD).
Royal Bank of Canada is an excellent option for long-term growth in 2020. The company has a strong history of profitability and dividend growth, and it is well-positioned to continue growing its business in the years ahead.
Bank of Nova Scotia is another top Canadian stock for long-term growth. The company has a diversified business model that should help it generate strong earnings growth in the years ahead. Additionally, the Bank of Nova Scotia offers a high dividend yield that could provide investors with income streams in 2020 and beyond. Toronto-Dominion Bank is also a good option for long-term growth in 2020. In 2020, the S&P/TSX Composite Index was down 3.2% through Oct. 13, compared to a gain of 8.7% for the S&P 500,
Here Are Best Canadian Stocks For Long Term Growth 2020
Air Canada (AC.TO)
Air Canada is the largest airline in Canada, and it has a long history of providing quality service to passengers. The company is also a significant player in the cargo shipping industry, and it has a large fleet of planes used for both passenger and cargo transportation. Air Canada is a publicly-traded company, and its stock is listed on the Toronto Stock Exchange (TSX). The company has a market capitalization of more than $9 billion, and its stock is trading at around $32 per share.
Air Canada is a well-managed company that has a solid financial position. The company generates significant revenue from its airline operations, and it also benefits from its ownership of a large number of airport terminals. As a result, air Canada’s stock offers investors an excellent opportunity for long-term g. In addition, the company is well-positioned to take advantage of the growth in the airline industry.
Market Cap: 6.43 Billion
YTD Return: -67.9%
Alimentation Couche-Tard (ATD-A.TO)
Alimentation Couche-Tard (ATD-A.TO) is a Canadian company that operates a network of convenience stores in North America. The company is known for its innovative approach to convenience store retailing, which includes offering a wide selection of products and services and providing a convenient shopping experience. Alimentation Couche-Tard is also known for its strong focus on environmental sustainability. (NYSE: COP) in late 2003
Market Cap: 48.4 Billion
YTD Return: 8.7%
BRP (DOO.TO)
The BRP (DOO.TO) is one of the best Canadian stocks for long-term growth in 2020. The company has a strong history of innovation and a commitment to quality that has earned it a reputation as a top brand. BRP is also well-positioned for growth in the coming years, with new products hitting the market and expanding into new markets. As a result, investors looking for long-term growth should consider adding BRP to their portfolio.
Market Cap: 6.02 Billion
YTD Return: 28%
Canopy Growth (WEED.TO)
Canopy Growth (WEED.TO) is one of the best Canadian stocks for long-term growth in 2020. The company has a history of solid performance and is well-positioned to continue its growth trajectory in the coming years. In addition, canopy Growth is a leading cannabis producer and has a large international presence.
The company’s products are sold in over 30 countries, and it has a strong pipeline of new products and partnerships.
Canopy Growth is also well-funded and has a strong management team in place. As a result, as the cannabis market grows, Canopy Growth is well-positioned to capitalize on this opportunity and deliver value to shareholders.
Market Cap: 12.07 Billion
YTD Return: -11.3%
Ceridian HCM (CDAY.TO)
Ceridian HCM (CDAY.TO) is a Canadian company that provides cloud-based human capital management (HCM) software. The company has seen strong growth in recent years and is expected to continue to grow in 2020. As a result, CDAY.TO is an outstanding stock for long-term growth investors.
The company’s cloud-based HCM software is used by businesses of all sizes to manage their employee data. Ceridian has seen strong growth in recent years, thanks to the growing popularity of its cloud-based software. In addition, the company is expected to grow in 2020, thanks to its strong product lineup and competitive pricing.
CDAY.TO is an outstanding stock for long-term growth investors. The company has a strong track record of growth and is expected to continue to grow in 2020.
Market Cap: 18.6 Billion
YTD Return: 32.6%
Dollarama (DOL.TO)
Dollarama is a Canadian dollar store chain with over 1,000 stores. The company has been in business since 1992 and has seen consistent growth over that time. As a result, Dollarama is an outstanding stock for long-term investors looking for reliable growth.
The company’s earnings growth has averaged 16% per year over the last decade, and it is expected to continue growing at a rate of 10-12% in the coming years. This makes Dollarama one of the best Canadian stocks for long-term growth.
The company is also very profitable, with a net margin of over 10%. This gives it plenty of room to continue expanding its store base while maintaining high profitability.
Dollarama is also a very well-run company, with a return on equity of over 30%. This demonstrates that management can generate high profits from its assets.
Market Cap: 15.68 Billion
YTD Return: 15.8%
FirstService (FSV.TO)
FirstService Corporation is a Canadian real estate company that operates in the United States and Canada. The company was founded in 1992 and is headquartered in Toronto, Ontario. FirstService Corporation offers services in five segments: residential property management, commercial property management, security services, facility services, and homeowners associations. The company is considered one of the best Canadian stocks for long-term growth and has a dividend yield of 2%.
Market Cap: 7.64 Billion
YTD Return: 47.6%
National Bank of Canada (NA.TO)
National Bank of Canada is among the top Canadian stocks for long-term growth in 2020. The bank has a strong history of profitability and a healthy balance sheet. National Bank is also well-positioned to benefit from rising interest rates. In addition, the stock offers a dividend yield of 3.8%, making it an attractive income investment as well.
Market Cap: 24.2 Billion
YTD Return: -5.7%
Power Corporation (POW.TO)
Power Corporation (POW.TO) is a Canadian company that offers various services, including life insurance, asset management, and wealth management. The company has a long history of providing quality services and has been listed on the Toronto Stock Exchange since 1924.
Power Corporation is a strong company that has weathered the ups and downs of the market over the years. As a result, it is well-positioned for long-term growth and offers investors a solid investment opportunity.
Market Cap: 20.19 Billion
YTD Return: -16.2%
Thomson Reuters (TRI.TO)
Thomson Reuters (TRI.TO) is a Canadian multinational mass media and information firm headquartered in Toronto, Ontario. The company operates in four segments: Reuters, Thomson Financial, Tax & Accounting and Professional & Regulatory. Thomson Reuters is considered one of the best Canadian stocks for long-term growth, as it has a strong history of profitability and dividend growth.
Market Cap: 52.12 Billion
YTD Return: 17.4%
Source: Yahoo Finance | Investor Place
