Written by Joey Frenette at The Motley Fool Canada

Tax-Free Savings Account (TFSA) investors who haven’t had the opportunity to buy anything with this year’s TFSA contribution may wish to pick away at the broad stock market’s better deals as the so-called Trump stock rally kicks into high gear. Further, the new year is less than two months away now, which means another contribution of $7,000 that you’ll be able to make in your TFSA come January 2025.

Indeed, it’s tough to get behind certain valuations. And while stocks may be a tad on the expensive side, I wouldn’t go as far as to say it’s absurdly priced in a manner that would warrant a nasty market pullback.

If anything, I view many Canadian stocks as fairly valued, with some lesser-loved names that I believe may even be undervalued. Sure, the undervalued plays flying underneath the radars of investors may not have nearly as much going for them as the year comes to an end.

However, if you’ve got two to three years to invest, I think that the combination of low expectations and potential catalysts may help the following relative laggards (and value plays) march higher over the medium to long term. Let’s check in on some lesser-known dividend deals to consider if you’ve got TFSA cash you’re keen on putting to work sooner rather than later.

Quebecor

Quebecor (TSX:QBR.B) is a Quebec-based telecom underdog with a mere $7.6 billion market cap. Though it has grand ambitions to compete with the national telecom heavyweights more effectively, the shift does not seem to be coming with timely gains. Indeed, Quebecor is a company that’s playing the longer-term game. As such, investors must be patient with the high-growth industry disruptor as it makes its move to go after more Canadian wireless customers.

The company needs to spend a great deal to become a bigger player in Canada. That said, interest rates are coming down, which may allow Quebecor to get a heck of a lot more aggressive with its wireless growth strategy. It will be interesting to see how the firm can pivot as the industry goes through a multi-year rough patch. Either way, I’m a fan of the stock on the recent dip. The stock goes for $32 and change with a 3.9% dividend yield. That’s a great value for money.

Wheaton Precious Metals

Wheaton Precious Metals (TSX:WPM) stock has been a solid performer after gaining over 87% in the past two years. Undoubtedly, the company is a well-run precious metal streaming company with a very intriguing business model.

The company funds various mining projects for production, allowing it to offer a smoother way to benefit from the precious metals industry. Indeed, mining can be a rather risky business, perhaps too risky for jittery investors. Though bullion is a safer way to play precious metals, I’d argue that Wheaton’s streaming business model offers a better risk/reward balance.