3 Canadian Stocks I’m Looking To Buy In This Market Correction

With so many stocks selling cheap, investors are spoiled for choice. However, the market won’t be this cheap forever, and investors only have a limited amount of funds to put to work. Therefore, it is crucial not only to seize the opportunity, but also to make sure that the canadian stocks you are looking to buy are the best of the best.

If you have the cash and are looking to take advantage of all these deals on the TSX, Here are three of the best Canadian stocks that I am closely watching and looking to buy in this market correction.

One of the best long-term growth stocks to buy in the market correction

There are plenty of high-quality stocks to buy right now, but one of the best Canadian stocks I’m keeping an eye on is Jamieson Wellness (TSX:JWEL).

Jamieson is a health and wellness company that designs, manufactures and sells a wide range of natural health products, including vitamins, nutritional supplements and much more.

The company is one of the best Canadian stocks you can buy in this correction because it is highly reliable, its trading is defensive, and it has a long track record of strong execution. Additionally, Jamieson has a lot of potential to grow both organically and through acquisition.

In fact, the company has just announced another very attractive acquisition that gives it an important growth avenue south of the border.

So because it’s such a high-quality company and sells such essential products, it’s a stock you can trust for the long haul. Plus, the stock even pays a growing dividend.

So while it is not unexpected that Jamieson has been more resilient than the market in recent weeks, if it continues to sell off during the market correction, it is one of the best stocks you can buy.

One of the top Canadian retail stocks to own for decades

Another excellent growth stock that also trades in a reliable industry is granite REITs (TSX:TRB.UN). However, Granite already seems to be even cheaper than Jamieson. And if the correction were to worsen and Granite continued to sell off, it would certainly be one of the best stocks you can buy.

Granite is an excellent long-term investment because it has significant growth potential. Of course, the company has an attractive pipeline of future growth projects. In addition, however, industrial REITs continue to be some of the best to buy as e-commerce grows and the demand for warehouse space continues to outstrip the supply of new assets entering the market.

This has led to significant increases in rents, giving Granite a ton of potential to see their revenue grow.

So when you consider how defensive real estate is, the fact that Granite is also a dividend growth stock, and the fact that it is now trading vastly undervalued, it is without a doubt one of the best stocks to buy for sale. in the market correction.

A top major stock to buy while it’s on sale

Lastly, one of the main actions I’m looking at and one action I already have is push (TSX:ENB)(NYSE:ENB)the gigantic giant of energy.

In recent weeks, Enbridge has been slightly sold off. However, it is still not that cheap as its operations are very resilient. However, if Enbridge continues to drop in value, I will certainly look to pull the trigger.

Enbridge not only already pays an attractive dividend yield 6.5%, which will continue to rise as the shares sell off, but you will also have the opportunity to buy highly undervalued shares, which is not often the case.

The massive energy giant worth over $100 billion is one of the best and most reliable stocks you can buy, especially in a correction. Plus, it’s the perfect business to buy the core of your portfolio that you can plan on owning for decades.

So when and if this high-quality stock continues to drop in value, I’ll be patiently waiting to seize the opportunity.

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