Bull Market Buys: 3 Great Stocks to Own for the Long Term

A bull outlines itself against a field

Image source: Getty Images.

We’re not there yet, but a bull market could happen at almost any time. Market sentiment is already improving, with markets around the world once again climbing past record highs. This also applies here in Canada.

This is actually why now could be an excellent time to buy great stocks that expect a long-term recovery. With that in mind, let’s take a look at three to consider on the TSX today.

CNR shares

First of all, we did that Canadian National Railway (TSX:CNR). CNR stock is well positioned to potentially perform well in a bull market for several reasons. As one of the largest railroad companies in North America, CNR operates an extensive network of railroads in Canada and the United States. Rail transport is a crucial part of the economy and facilitates the transport of goods and raw materials over long distances.

During periods of economic expansion, there is typically increased demand for transportation services, which benefits companies like CNR. In addition, CNR Stock has a reputation for operational excellence and efficiency in managing the rail network. By continuously investing in infrastructure, technology and process improvements, CNR aims to improve the reliability, capacity and safety standards of its services, which can be attractive to customers during periods of economic growth.

Finally, CNR has historically demonstrated strong financial performance, with consistent revenue growth, healthy profit margins and robust cash flows. Add to that the fact that CNR stock has a good track record of paying dividends to its shareholders, and the stability of its dividend payments could be attractive to investors looking for income during a bull market.

Speed โ€‹โ€‹of light

Then we have Lightspeed trading (TSX:LSPD), which has already posted some gains. Lightspeed Stock operates on a subscription-based SaaS model, providing recurring revenue streams and predictable cash flows. During a bull market, investors often favor companies with subscription-based business models due to their resilience and ability to generate steady revenue growth over time.

Additionally, Lightspeed has expanded its market presence globally, targeting new geographic regions and verticals. This expansion strategy allows Lightspeed to diversify its revenue streams and tap into new growth opportunities, which can be especially beneficial during a bull market when companies are looking to expand and invest in technology solutions.

Finally, Lightspeed Stock has formed strategic partnerships and integrations with other technology providers, payment processors and industry-specific platforms โ€“ most recently with Uber Technologies. These partnerships strengthen Lightspeed’s value proposition for customers and can drive adoption of the platform, especially during periods of economic growth when companies are more willing to invest in technology solutions to drive efficiency and growth.

Canadian band

Finally we have Canadian band (TSX:CTC.A), which has been struggling lately, but not for long. Canadian Tire shares operate in the consumer discretionary sector, with a diversified business portfolio that includes retail, automotive, sports, leisure and household products. During a bull market, consumer confidence is often high, leading to increased consumer spending on luxury items such as car accessories, home improvement products, sporting goods and leisure items.

And don’t forget brand recognition. Canadian Tire owns and operates several well-known retail banners, including Canadian Tire, Mark’s, SportChek and Atmosphere. Each of these banners targets specific consumer segments and product categories, allowing Canadian Tire to diversify its revenue streams and respond to different market trends and consumer preferences.

Finally, Canadian Tire stock has a track record of delivering solid financial performance, with consistent revenue growth and profitability. The company’s ability to generate strong cash flows and return capital to shareholders through dividends and share buybacks can attract investors looking for stable and reliable investments during a bull market.

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