We’re convinced this under-the-radar Canadian disruptor that’s less than 5% the size of Tesla could be one of the best growth stocks of 2021 and beyond.Ĭlick here to learn more about this 'Tesla of Canada' stock and Stock Advisor Canada. There’s a dark horse Canadian company that has produced 3 TIMES the number of vehicles as Tesla, yet its stock trades for roughly 25x LESS! One Canadian Stock for the Electric Vehicle Boom The post 3 Cheap Canadian Stocks to Buy Now appeared first on The Motley Fool Canada.įor similar wealth-creating ideas, check out this HIGH GROWTH following report. That makes another one of the cheap stocks to buy now, as it won’t remain cheap for long. The stock trades at a fair book value of 4.8. It also provides a more efficient and thus cheaper method of shipping products from Canada to Mexico. Management believes it’s not just the bid price of US$33.7 billion that has Kansas City Southern’s attention. CNR stock would have access from Canada down to Mexico, something CP stock could not compete with at this point. CNR stock has been trying to catch up for years to CP stock, and this new purchase could put it in the lead within the duopoly. Today, CNR stock offers that same opportunity.ĬNR stock outbid CP stock in the bid for Kansas City Southern railway system, but the deal is still ongoing as of writing. Back then, the company saw a major boost while revamping its services. This company provides long-term investors with the opportunity to buy in to a similar situation that Canadian Pacific Railway was in only a few years ago. My final pick for this list is going to be Canadian National Railway Co. Suncor stock may even boost back up its dividend yield, currently at 3.3% after slashing it last year. It also expects an average upstream production of 740,000 to 780,000 barrels of oil equivalent per day, a 10% increase year over year. In fact, Suncor stock management seem so confident in the company’s future it announced a $500 million share repurchase program for 2021 last year. It bought up land in the Alberta oil sands to produce even more product with the incoming oil demand. But the company was already on the growth path before the pandemic and downturn from the oil and gas glut back in 2018. There will be a surge in oil demand, and this alone will see financials soar, along with the share price. The reopening of the economy will be beneficial for Suncor stock. But because of the correction, it trades at 1.6 times sales and 1.1 times book value, making it a steal today and one of the stocks to buy now. Suncor stock trade 12% lower than highs back in March, and the decline in oil demand dragged the share price lower. The company continues to trade at cheap valuations given its growth prospects.

My second top choice for a stock to buy now has to be Suncor Energy Inc. So while the next few years could be a bit volatile, long-term investors will be glad they bought today. Add in the $5.9 billion financial aid package from the federal government, and AC stock is looking is a solid financial position.ĪC stock already made cost-saving changes before the downturn, and is now looking to expand into cargo services with the rise in e-commerce demand. Restrictions will be lifted slowly, but then passenger demand is likely to surge. There will be near-term challenges as the company changes within a post-pandemic world.

That’s why this is one of the stocks to buy now. Yet given this pandemic is a temporary situation, that makes the current 1.6 times sales valuation a steal. AC stock still trades at half where it was before the crash in March 2020. The variant continues to wage war on the company and AC stock price. There are still travel restrictions for Air Canada (TSX:AC), it’s true. For my money, I would start with these three. That means these are stocks to buy now that trade at cheaper valuations and offer superb buying opportunities. When vaccinations are well underway, there could be a full blown rebound for the market. The COVID-19 vaccine is slowly making its way across the country. The TSX continues to rebound with the economy finally starting to reopen.

Cheap stocks to buy now november 2016