It’s been a volatile and uncertain year in global markets, with interest rate expectations shifting several times, trade wars yet to be resolved, earnings surprises on both sides, and a handful of sectors recovering while others continue to lag.
However, it’s important to remember that despite all that noise, the most important thing long-term investors can do is continue to focus on quality companies that can perform well over the long term.
And the good news for investors is that the TSX is full of strong companies with reliable profits, healthy balance sheets and long-term track records of creating wealth for shareholders.
So whether you want to take advantage of stocks that have fallen, rebalance your positions before year-end, strengthen your portfolio or simply put excess cash to work, here are three of the best Canadian stocks to buy right now.
One of the best Canadian stocks to buy heading into 2026
If you’re looking for a high-quality Canadian stock to buy now that’s reasonably priced and has years of growth potential ahead of it, I’d strongly consider this Brookfield Renewable Partners (TSX:BEP.UN), especially as we head into 2026.
Clean energy stocks have significant long-term growth potential as the world undergoes a decades-long shift to green energy. However, there is also a lot of short-term growth potential for these stocks as the use of AI increases energy demand and falling interest rates make these stocks more attractive.
And while there are a handful of renewable energy stocks on the TSX, Brookfield is the largest and most diversified, with a solid management team and access to more capital than any of its peers.
With Brookfield offering a 5.2% dividend yield, it’s certainly one of the best Canadian stocks to buy right now.
A top defensive growth share
With interest rates expected to fall further in 2026, hopes are high that economic activity will pick up again while inflation remains under control.
With so much uncertainty about how the economy will perform in 2026, some of the best Canadian companies to buy now are defensive growth stocks, such as Jamieson Wellness (TSX: JEWEL).
Defensive growth stocks are always ideal long-term investments, but they are especially attractive when the economy is so uncertain.
As a well-known developer, manufacturer and distributor of health and wellness products, Jamieson’s business is defensive by nature, providing investors with a reliable investment if increased market volatility and uncertainty persist into 2026.
At the same time, however, Jamieson has exciting long-term potential as it grows its business in Canada organically and continues to expand internationally.
With Jamieson being one of the best stocks in Canada and a company positioned for any economic climate, there’s no doubt it’s one of the best Canadian stocks to buy right now.
A top share to buy when interest rates fall
Falling interest rates will be positive for stocks across the TSX, but some of the biggest rallies could come from high-quality REITs that continue to trade cheap, such as Canadian Apartment Properties REIT (TSX:CAR.UN).
CAPREIT, as it is known, is the largest residential REIT in Canada, making it an incredibly reliable and defensive investment that you can own with confidence for years to come.
Plus, it’s also ultra-cheap in this environment, making it one of the best Canadian stocks to buy now, especially before the inevitable recovery.
Currently, CAPREIT trades at a forward price-to-adjusted-funds-from-operations (P/AFFO) ratio of just 15.8 times. That’s well below the five-year average forward P/AFFO ratio of 23 times.
Moreover, it currently offers a yield of approximately 4.1%. That is well above the five-year average return of only 3.1%.
So if you’re looking for high-quality Canadian stocks to buy now that could rise significantly in 2026, CAPREIT is one of the cheapest investments on the TSX right now.
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