Best Stocks to invest

Top 5 Stocks To Invest In Canada In 2023

Before investment in the stock market, proper knowledge is a must. You have landed in the right place if you are looking for the top 5 stocks to buy in Canada in 2022-2023.

Since you have started investing, you might have gone through various data related to the best stocks to invest in Canada but ultimately ended up making losses or a slight profit percentage.

Whether you are a novice or experienced in this field, the basics of investing for successful investors remain the same.

If you do not have a high hand in this, no worries; here, I will show you the right path to invest in the top 5 stocks in Canada.

Here we go:

Top 5 Stocks To Invest In Canada In 2022-2023

Royal Bank of Canada TSE RY - Free Portfolio Tracker

Royal Bank of Canada (TSE: RY)

There is no bank with such extreme exposure to international banking as this one. It is a bank providing a wide range of services for individuals, businesses, wealth management, insurance, corporations, and capital markets.

Royal Bank of Canada has been one of the most trusted and valuable brands for the past six years. During the tech boom of 2020 and 2021, this bank experienced a slight dump in the growth rate, but by the beginning of 2022, it had reclaimed its throne. Right now, the market valuation of the Royal Bank of Canada is $175 billion. You can surely invest in this to make huge profits.

Loblaw (TSE:L)

Loblaw TSE L - Free Portfolio Tracker

With the greatest shop footprint in Ontario and significant operations in British Columbia and Quebec, Loblaw is one of Canada’s biggest retailers of general products, pharmacies and groceries.

The factor that made Loblaw ahead of its competitors is its significantly larger percentage of discounts.

However, the last quarter of 2021 and the beginning of 2022 showed that steady cash flow might occasionally occur over rapid expansion.

I have included Loblaw in the top 5 Canadian stocks list because of its robust dividend growth and high sales expectations in 2023.

Dollarama (TSE: DOL)

Dollarama TSE DOL - Free Portfolio Tracker

Dollarama is one of the nation’s most well-known consumer defensive stocks (TSE: DOL). It offers a wide selection of general commerce, everyday consumer goods, and seasonal goods, all at affordable set price points.

Let’s go back to the time of the recession when many shops were issuing warnings about declining growth. Dollarama is the one that anticipated maintaining its rate of double-digit growth.

According to analysts, the firm will see double-digit sales and profitability growth in Fiscal 2023 and Fiscal 2024. It is the right Canadian stock to invest in 2022-2023.

TFI International TSE TFII - Free Portfolio Tracker

TFI International (TSE: TFII)

TFI is a logistics and trucking firm. The business operates in four divisions: Logistics, Less-Than-Truckload, Truckload, and Package and Courier.

Even after showing a zigzag curve in the mid-2020s when its stock price fell to $24, it has shown incredible growth, and the stock is now trading in the $125 range.

TFI International should be able to keep raising its dividend thanks to this rise in profits. In the previous five years, the firm has increased dividends at an average rate of 9.9%, continuing an 11-year trend of dividend increases.

Canadian Natural Resources TSE CNQ - Free Portfolio Tracker

Canadian Natural Resources (TSE: CNQ)

The last Canadian stock in our list of top 5 stocks to invest in Canada in 2022-2023 is Canadian Natural Resources. If you want to invest in oil, I would advise purchasing the best-in-class Canadian Natural Resources producer in North America.

 Regardless of the zigzag growth curve, the firm still has the upside potential for its share prices and dividends; you can invest in it to mint good profits.

Conclusion :

New year is coming & it’s just few months left for 2023, these are one of the most reliable stock according to us. But we suggest you should do your research properly & only invest after calculating all the risks.

I Hope you you liked the list of top 5 stocks to invest in Canada in 2022 & 2023. Do check out other articles to understand how you can track your stock portfolio for free.

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