5 Top TSX Stocks to Buy & Hold for the Long Term

These top Canadian stocks are expected to outshine broader markets in the long term and deliver stellar returns.

You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The expected economic expansion, revival in consumer demand, and a continued shift towards the omnichannel platform provide a strong underpinning for growth in equities in the coming years. So, if you plan to invest in equities, consider buying these top five TSX stocks for the long term. 

goeasy

goeasy (TSX:GSY) has consistently outshined the broader markets and delivered impressive returns over the past two decades. I expect the uptrend in goeasy stock to sustain as favourable industry trends and a large subprime lending market provides a multi-year growth opportunity. 

I expect the economic expansion to drive goeasy’s loan portfolio in the coming years. Meanwhile, strong payment volumes and growing penetration of risk-adjusted products augur well for future growth. Furthermore, goeasy’s high-quality earnings suggest that it could enhance shareholders’ returns through higher dividend payments.

Dye & Durham

Dye & Durham (TSX:DND) has witnessed a sharp pullback in the recent past, which presents a strong buying opportunity for long-term investors. I believe the uptick in economic activities and its accretive acquisitions are likely to drive its revenues and adjusted EBITDA at a breakneck pace over the next several years. 

Its diversified and large blue-chip customer base, growing geographic footprint, and higher customer retention rate are likely to drive its financials. Meanwhile, its appetite for accretive acquisitions and geographical expansion is expected to accelerate its growth rate and drive its stock higher. 

Shopify 

The continued spending on e-commerce platforms and shift in selling models are likely to drive Shopify (TSX:SHOP)(NYSE:SHOP) stock higher. Notably, small- and medium-sized businesses continue to move towards the omnichannel platform, driving increased demand for Shopify’s products and services.

Alongside increased demand, Shopify’s expansion of fulfillment network, growing adoption of its payment solutions, and international expansion could continue to accelerate its growth rate. Meanwhile, new products, operating leverage, and a large addressable market strengthen my bullish view on Shopify stock. 

Lightspeed POS

Like Shopify, Lightspeed POS (TSX:LSPD)(NYSE:LSPD) is also expected to benefit from favourable secular industry tailwinds. Lightspeed’s omnichannel payment platform’s demand is expected to remain elevated, providing a solid growth base. 

While the momentum in its base business is likely to sustain, Lightspeed’s accretive acquisitions are likely to solidify its competitive positioning in high-growth markets. I expect to see continued growth in its customer base, while its focus on innovation and growing scale are likely to supplement its margins and, in turn, its stock. 

Enbridge

The favourable long-term energy outlook and diverse cash flow sources are expected to drive Enbridge (TSX:ENB)(NYSE:ENB) stock higher in the coming years. The economic expansion is likely to drive Enbridge’s mainline volumes. Meanwhile, continued strength in its base business is likely to cushion its earnings. 

While improving operating environment and secured capital growth program is likely to support Enbridge stock, it is expected to enhance its investors’ returns through higher dividend payments. Enbridge has consistently raised its dividends over the past several years and could continue to increase it in the future. It offers a very high yield of more than 7.2%.   

Should you invest $1,000 in Lightspeed right now?

Before you buy stock in Lightspeed, consider this:

The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Lightspeed wasn’t one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have $21,345.77!*

Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 24 percentage points since 2013*.

See the Top Stocks * Returns as of 4/21/25

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Sneha Nahata has no position in any of the stocks mentioned. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of and recommends Enbridge, Shopify, and Shopify. The Motley Fool owns shares of Lightspeed POS Inc.

Confidently Navigate Market Volatility: Claim Your Free Report!

Feeling uneasy about the ups and downs of the stock market lately? You’re not alone. At The Motley Fool Canada, we get it — and we’re here to help. We’ve crafted an essential guide designed to help you through these uncertain times: "5-Step Checklist: How to Prepare Your Portfolio for Volatility."

Don't miss out on this opportunity for peace of mind. Just click below to learn how to receive your complimentary report today!

Get Our Free Report Today

More on Tech Stocks

Investor wonders if it's safe to buy stocks now
Tech Stocks

Where Will BlackBerry Be in 4 Years?

With fresh partnerships and a tighter focus, BlackBerry is trying to lay the foundation for long-term growth.

Read more »

Start line on the highway
Tech Stocks

The Smartest Canadian Stock to Buy With $10,000 Right Now

Investors interested in tech can consider Constellation Software.

Read more »

Investor reading the newspaper
Tech Stocks

Dip Buyers Could Win Big: The Best Canadian Stocks to Buy Now

Canadian stocks have some big winners, and these three are a prime choice while shares are down.

Read more »

Data center servers IT workers
Dividend Stocks

If I Could Buy and Hold a Single Canadian Stock, This Would Be It

If you want a Canadian stock that's due for even more growth, this one is an easy "yes."

Read more »

Abstract Human Skull representing AI
Dividend Stocks

1 Practically Perfect Canadian Stock Down 26% to Buy Now and Hold for Life!

This Canadian stock continues to be undervalued for investors wanting in on a solid, long-term tech stock.

Read more »

how to save money
Tech Stocks

Where Will Shopify Stock Be in 2 Years?

Down 40% from all-time highs, Shopify is a TSX tech stock that trades at a discount to consensus price targets…

Read more »

A family watches tv using Roku at home.
Tech Stocks

1 Magnificent Canadian Stock Down 57% to Buy and Hold Forever

Down over 50% from all-time highs, Vecima Networks is a TSX tech stock trading at a sizeable discount in May…

Read more »

A bull and bear face off.
Tech Stocks

How to Invest $50,000 of TFSA Cash in 2025

The market sell-off in the last two months amid fear of tariffs has created an opportunity to invest your cash…

Read more »