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By investing over a long period, you can create substantial wealth by harnessing the power of compounding. Besides, this strategy also shields your investments from short-term fluctuations. Meanwhile, identifying stocks with solid underlying business and healthy growth prospects is also equally important. The pandemic has brought in numerous changes to people’s habits. Amid changing customers’ behaviour, here are four Canadian stocks poised for substantial growth over the next 10 years.
Nuvei
The pandemic has boosted e-commerce growth due to increased adoption of online shopping and shift towards omni-channel selling model. This transition could benefit
Nuvei (TSX:NVEI), which provides payment technology solutions to merchants and partners worldwide. With a portfolio of 470 APMs (alternative payment model), the company operates across 200 markets. Further, it also provides pay-in and payout services to 40 cryptocurrencies.
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With improving corporate earnings becoming a significant growth driver, here are four top Canadian stocks that you can buy right now after their impressive quarterly earnings.
Magna International
First on my list would be
Magna International (TSX:MG)(NYSE:MGA), which had delivered an impressive first-quarter performance, outperforming both analysts’ top-line and bottom-line expectations. The company’s revenue came in at $10.18 billion against analysts’ expectations of $9.53 billion, while its adjusted EPS of $1.86 beat analysts’ expectations by 18.5%.
The growth in its light-vehicle production and improvement in its operating performance drove its financials. After reporting solid first-quarter performance, Magna International’s management raised its revenue and net income guidance for this year. Further, its long-term growth prospects also look healthy, given its significant exposure to the high-growth electric vehicle
Despite the rising COVID-19 cases, the Canadian equity markets have remained strong, with the
S&P/TSX Composite Index trading over 10% higher for this year. The expectation of more fiscal stimulus and expansion of vaccination drive has increased investors’ confidence, driving the markets higher. Amid investors’ optimism, here are four Canadian stocks that can deliver superior returns this year.
Lightspeed POS
Despite the reopening of the economy, the demand for
Lightspeed POS(TSX:LSPD)(NYSE:LSPD) could sustain, given the secular shift towards online shopping and the adoption of omnichannel solutions by small- and medium-scale retailers. Further, the company’s focus on developing innovative products, an aggressive acquisition strategy, and a strong customer base augur well with its growth prospects.
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Boosted by January’s gross domestic numbers, jobs returning and Biden’s $2.3 trillion infrastructure pitch, the Canadian equity markets have been rising, with the
S&P/TSX Composite Index up close to 9% for this year. Amid increased investors’ confidence, here are the four top Canadian stocks you can buy this month for superior returns.
Lightspeed POS
With small-scale and medium-scale businesses shifting towards omnichannel solutions and increased online shopping adoption by customers, the demand for
Lightspeed POS’s (TSX:LSPD)(NYSE:LSPD) products and solutions could only rise. The company is also strengthening its competitive positioning and expanding geographically through aggressive acquisitions and launching new innovative products.