Yahoo Finance Looking for Big Returns? 2 TSX Stocks With Tons of Potential
Written by Chris MacDonald at The Motley Fool Canada
Many growth investors have clearly looked forward to 2023. Indeed, the rebound most stocks have seen this year, particularly in higher-growth sectors of the economy, has been drastic.
Stocks haven’t yet made new highs from 2021. However, the market this year has been much more balanced, with even the more speculative corners of the market, including tech and crypto, rebounding nicely.
The question, of course, is whether this can continue. With interest rates still sky high, inflation and banking concerns mounting, and geopolitical issues remaining key, it’s going to be an interesting back half of the year.
With that said, here are three TSX stocks I think have big potential over the long term for aggressive investors.
Top TSX stocks for big returns: Shopify
Shopify (TSX:SHOP) is a leading global e-commerce company that offers platform infrastructure to businesses of any size to start, scale, run, and market their products and services online.
Shopify has been making and breaking records since the Black Friday Sale in November 2022. Much of this outperformance has been driven by several initiatives aimed at enhancing the productivity of the company.
These productivity enhancements have clearly flown through to Shopify’s recent earnings, which blew analysts out of the water. Taking a look at Shopify’s stock chart above, it’s clear investors have liked what they see with this company (at least relative to previous expectations).
Analysts are eagerly waiting to see how the company manages to deal with the macroeconomic triggers and raging inflation in the months to come — as am I. However, over the long term, this is a top stock I think is worth considering here.
Restaurant Brands
Restaurant Brands (TSX:QSR) has been a popular choice among investors due to its historical track record of providing consistent returns. In February 2023, QSR appointed Joshua Kobza as the new chief executive officer of Restaurant Brands International. Since then, the company has been witnessing raging growth, especially because of its acquisition of leading food chains in the last five years.
In recent news, the brand reported that Burger King is “selling more Whoppers than ever” in the United States. Indeed, it appears that Restaurant Brands’s transformed business strategy has been effective.
On May 2, 2023, QSR announced its first-quarter results, and it exceeded Wall Street’s estimates. The company reported revenue of $1.59 billion, which beat analysts’ estimates of $1.56 billion. The company’s net income this past quarter came in at $277 million, representing impressive margins for investors.
The post Looking for Big Returns? 2 TSX Stocks With Tons of Potential appeared first on The Motley Fool Canada.
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Fool contributor Chris MacDonald has positions in Restaurant Brands International. The Motley Fool has positions in and recommends Shopify. The Motley Fool recommends Constellation Software and Restaurant Brands International. The Motley Fool has a disclosure policy.
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