Although the continued threat of tariffs on Canadian exports has caused a lot of confusion and uncertainty for the economy, and many economists are predicting that a prolonged trade war could cause an economic slowdown, there are still a handful of high-quality Canadian stocks to buy for growth in 2025.
Some companies stand to benefit from the growing “buy Canadian” movement. In contrast, others are well-positioned due to their operations, minimal reliance on the U.S. as a customer, or other competitive advantages.
For instance, many high-quality real estate stocks are already trading undervalued and have little to no exposure to the U.S. market.
That’s why it’s crucial to understand how each business operates, what risks it may face, and how its growth potential factors into this economic environment.
So, if you’re looking for top Canadian growth stocks to buy now, here are three that could see a significant jump in revenue and earnings in 2025.
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Two top Canadian stocks to buy with significant growth potential in 2025
If you’re looking to buy Canadian stocks with strong growth potential this year, two of the best to consider are Dollarama (TSX:DOL) and AltaGas (TSX:ALA).
As a discount retailer that allows consumers to buy essential goods at reduced prices, Dollarama always has strong growth potential. However, it has especially strong growth potential when the economy starts to weaken.
In addition, Dollarama is one of the most well-known Canadian retail brands, and if the economy were to worsen due to a trade war, as many economists are predicting, the stock could once again see a major boost in revenue.
That’s exactly what happened during the pandemic and the years of surging inflation that followed, when its annual revenue growth jumped to over 16%, compared to its usual range of about 6-8%.
Right now, analysts are forecasting that for Fiscal 2026 (which began on February 1, 2025), Dollarama’s earnings will grow by about 11%. And that number could be even higher if the economy weakens more than is currently expected.
Meanwhile, AltaGas is another top Canadian growth stock to consider. It offers reliable, low-risk operations thanks to its utility and midstream energy assets. Plus, nearly 90% of its propane exports already go to Asia.
AltaGas also owns the Ridley Island Propane Export Terminal, Canada’s first propane export facility and the closest North American propane terminal to Asia. Therefore, this terminal could see increased third-party use as more producers look to sell into Asian markets if tariffs on Canadian energy persist or potentially escalate due to retaliatory tariffs.
Currently, analysts are forecasting that AltaGas could see a massive revenue jump of 14.5% in 2025. That’s a significant gain for a lower-risk stock like AltaGas, which helps explain why the stock is already up 16% year to date, with much of that growth coming since the tariffs were first announced.
However, while both Dollarama and AltaGas are two of the best Canadian growth stocks to buy now, both have already seen significant rallies over the last few weeks.
So, if you’re looking for a Canadian growth stock to buy while it’s undervalued, WELL Health Technologies (TSX:WELL) is one of the best to consider.
Why WELL Health is a top pick for 2025
Despite the fact that WELL Health should remain relatively immune from U.S. tariffs on Canadian goods, the stock is down roughly 25% year-to-date, creating a significant buying opportunity for investors.
However, WELL isn’t just worth buying due to the temporary selloff in the stock. It also continues to be one of the top Canadian stocks to buy for its growth potential.
As it continues to acquire more outpatient clinics across the country (it’s already the largest owner/operator of outpatient clinics in the country) and constantly looks to improve their efficiency, analysts are estimating significant growth for WELL.
In fact, right now, analysts estimate WELL will see its revenue grow by more than 16% in 2025. Additionally, and even more importantly, analysts also estimate WELL’s normalized earnings per share will increase by more than 27% this year.
So, if you’re looking for top Canadian growth stocks to buy for 2025 and beyond, WELL is undoubtedly one of the best investments to consider today.
