The Canadian benchmark index has gained over 25% in one year, with top TSX stocks witnessing stellar gains. Despite the rally in several stocks, shares of a few fundamentally strong companies appear attractive, especially if you have a long-term outlook. These stocks have multiple growth catalysts and have ample room for growth in the long run. Therefore, if you plan to invest $3,000 in December, consider investing in these three TSX stocks right now.
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Shopify stock
As the holiday shopping season kicks off, Shopify (TSX:SHOP) stock stands out as a strong investment choice in December. The multi-channel commerce platform provider giant is expected to see a boost in gross merchandise volume (GMV) and revenue during this busy period. Beyond the seasonal surge, Shopify is well-positioned for long-term growth, driven by the ongoing shift in selling models toward omnichannel platforms.
Shopify’s focus on innovation and expansion of new sales and marketing channels to its platform will likely support growth and expand its market share. The company’s key offerings, like Shopify Payments and Shopify Capital, are helping attract more merchants, driving up GMV and gross payment volume (GPV). Additionally, its point-of-sale (POS) solutions are gaining popularity, particularly as the company expands payment options in global markets and strengthens its offline and business-to-business (B2B) offerings.
Further, Shopify’s integration of artificial intelligence (AI) into its platform enhances its efficiency, reduces costs, and improves the customer experience. Meanwhile, the company’s pivot to an asset-light business model and focus on cost control positions it well to deliver sustainable earnings growth in the long term.
With its innovative products, global expansion, and focus on efficiency, Shopify is well-positioned to capitalize on omnichannel commerce trends and deliver significant returns.
Celestica
Investors looking for a high-growth stock to add to their portfolio in December should consider Celestica (TSX:CLS). This company specializes in manufacturing, hardware platform solutions, and supply chain management and is benefitting from solid investments in data centre infrastructure from its hyperscale customers.
These investments are fueling robust demand for its hardware platform solutions (HPS), including Ethernet switches, high-performance computing platforms, and storage solutions. The company’s focus on AI-driven infrastructure, such as servers and networking equipment, positions it to capitalize on growing demand in the sector. As data centre buildouts accelerate, Celestica’s offerings are expected to gain significant traction.
Thanks to this stellar demand, Celestica stock has appreciated about 210% year to date. Further, high demand for its HPS and ongoing momentum in its Aerospace and Defense and Capital Equipment business suggest that the stock has more room to run.
goeasy
If you are looking for a stock to buy in December that offers growth, income, and value, goeasy (TSX:GSY) is worth considering. The subprime lender has been consistently growing its earnings and rewarding shareholders with higher dividends year after year. Over the past decade, goeasy has steadily increased its dividend, reflecting its commitment to returning value to investors.
The company’s robust financial performance and higher payouts have driven its share price higher. goeasy stock is up approximately 195% over the past five years and outperformed the broader markets.
The company will likely benefit from its leadership in Canada’s subprime lending space and growing demand. With diversified funding sources, solid credit underwriting practices, and strong loan demand, the goeasy is well-positioned to continue delivering solid financial results.
Moreover, goeasy’s efforts to expand its product offerings and geographic reach provide additional growth opportunities. Its strong balance sheet, stable credit performance, and improved operating leverage further strengthen its outlook.
goeasy is poised to deliver solid growth and boost its shareholders’ value through higher dividend payments. On top of that, the stock’s forward price-to-earnings ratio of just 9.1 makes it an appealing choice, especially given its impressive earnings growth potential.
