Written by Aditya Raghunath at The Motley Fool Canada

The ideal stock is the one that performs well across market cycles. Basically, the company needs to generate stable cash flows and sustain demand for its products or solutions even during periods of economic downturns.

Right now, investors are worried about rising interest rates, inflation, a sluggish macro economy, and lower consumer demand, which might drag the valuations of companies across multiple sectors significantly lower in the near term.

However, here are two top TSX stocks that could beat a bear market.

Is Nutrien stock a good buy right now?

Valued at $38.4 billion by market cap, Nutrien (TSX:NTR) is the world’s largest provider of crop inputs and services. It operates a vast network of production, distribution, and retail facilities that positions it to serve the needs of growers efficiently.

Armed with a network of 2,000 retail selling locations in seven countries, Nutrien provides its customer base with agriculture solutions such as crop protection products, seeds, and digital tools.

The company produces and distributes 27 million tonnes of potash, nitrogen, and phosphate products for agricultural, industrial, and feed customers globally. Its vast agricultural retail network services 500,000 grower accounts, making it one of the largest argi-focused companies.

Nutrien ended the second quarter (Q2) with adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $2.5 billion and net earnings of $448 million. It expects to end the year with earnings of $7.17 per share, indicating a forward price-to-earnings multiple of 11 times.

Nutrien also pays shareholders a quarterly dividend of $0.715, indicating a yield of 3.6%. These payouts have risen by almost 40% in the last five years. Analysts remain bullish on NTR stock and expect shares to surge 37% in the next 12 months.

What is the target price for Alimentation-Couche Tard stock?

Another TSX giant, Alimentation-Couche Tard (TSX:ATD) should be on your shopping list today due to its resilient business model. ATD stock has created massive wealth for long-term shareholders, rising 568% in the last 10 years and a whopping 3,880% since its October 2003. Despite these outsized gains, ATD stock is quite cheap and trades at 17.6 times forward earnings.

Alimentation Couche-Tard is among the largest players in the convenience sector and operates brands including Couche-Tard, Circle K, and Ingo. It also offers mobility services, including road transportation fuel and charging solutions for electric vehicles.