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Top 2 Canadian Stocks I’d Buy With $ 2000 Right Now

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I’m not the type to invest regularly. Even though I have investments and watch the markets every day, when it comes to buying stocks, I don’t often do that. And there is a reason: I can’t afford it! Well is that I can’t afford it again.

My strategy is to take 10% of every salary I get and put it aside. While I keep some of this money for myself, what I do more regularly is take some of it and put it into my TFSA. There it is safe from my prying hands who want to buy a coffee that I can prepare at home or a pregnant that I really do not need.

Then what I do even more regularly is take a look at my watchlist. This stock list is something I pay attention to, creating buy alerts when stocks drop below a certain price or percentage. Then, if I have money available in my TFSA, I take this opportunity to buy those solid stocks.

It doesn’t take much. You can use the same strategy and put money on your watchlist. You do not have any? Start with these two!

Tincture and Durham

The tech industry is still in liquidation after a year of strong growth. This goes even for businesses that have solid recurring revenues like Tincture and Durham (TSX: MDN). The title is completely undervalued, despite its good performance. The company provides cloud-based software to law firms, financial institutions, and government agencies – all businesses that aren’t going anywhere anytime soon.

Revenue has been strong as a result, increasing year over year by 10% on average over the past few quarters. While stocks have risen 163% since entering the market, stocks are now down 26% from the February high, which is an important starting point. The title is new, so there is a long way to go for long-term investors.

The company has acquisition activity, consumer rebound and a diverse customer base at the enterprise level to continue to generate revenue. This is why analysts give it a potential increase of 58% as of writing! This would turn an investment of $ 2,000 into $ 3,157.

Brookfield Renewable Power

Another stock that received a boost and then a decline is Brookfield Renewable Partners (TSX: BEP.UN) (NYSE: BEP). The company saw a big increase when President Joe Biden announced that billions would be invested in clean energy projects. This company which has a diversified portfolio of clean energy assets around the world would surely benefit from such an investment.

Again after the surge came the downside. While stocks rose 75% last year, those stocks are down 14% from January highs. Meanwhile, revenues have declined but returned solid, providing more opportunities to make more acquisitions in the near future, which in turn will create more revenue.

Over the past decade, stocks have risen 334% for a compound annual growth rate of 16% at the time of writing! That’s strong growth to consider, along with its 2.93% dividend yield. The stock currently has a price target of $ 65 – a potential hike of 22% at the time of writing. This would turn an investment of $ 2,000 into $ 2,452.

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This article represents the opinion of the writer, who may disagree with the official recommendation position of a premium Motley Fool service or advisor. Were Motley! Challenging an investment thesis, even one of our own, helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer, so we’re posting sometimes articles that may not conform to recommendations, rankings or other content.

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