3 most undervalued TSX stocks to add today –

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3 most undervalued TSX stocks to add today – fr


Many believe that a growth-to-value rotation is underway in the market today. For those who think so, now is the time to consider undervalued stocks today.

Fortunately, the Toronto Stock Exchange is currently teeming with such names, many of which have long-term growth potential. Here are three of those top stocks that investors should consider adding to their portfolios.

Blackberry

Perhaps the only stock of truly Canadian memes on the list is Blackberry (TSX:BB)(NYSE:BB).

Why am I including a stock of memes on this list?

Well, mainly because BlackBerry isn’t just about buying frenzied retail investors right now. The company has real catalysts in its favor.

For example, the company’s partnership with Amazone To develop cloud-connected software, the company’s BlackBerry Ivy platform has attracted interest from a large investor base. Considering the growth potential of the connected car market, this is a big deal. The company’s partnerships with other key players in the next-generation autonomous vehicle segment also represent tons of growth potential.

This software game is one with an underestimated and under-respected growth potential in the market today.

Fortis

This dividend aristocrat remains a top choice for most growth and income investors.

And for good reason.

Fortis (TSX: FTS) (NYSE: FTS) is a dividend growth gem. It has steadily increased its distribution every year for nearly 50 years. It’s an impressive record to hold, if you ask me!

Besides its all-time high, this utility game offers a stable dividend yield for long-term investors. Currently, it offers a decent dividend yield of 3.7%. Given Fortis’ history, investors can expect its current performance to skyrocket over time.

Fortis is indeed a high quality income defensive game, regardless of its valuation, especially in this environment. Investors looking for stable earnings and reliable income should consider adding this stock to their watchlists today.

Manulife

Manulife (TSX: MFC) (NYSE: MFC) is currently one of the leading financial stocks in Canada, mainly due to its relative valuation compared to its peers today.

Indeed, this insurance player is a big name in wealth management, providing various insurance-related products and services to clients in more than 20 countries. The growth profile of the company is excellent, with Manulife focusing on key growth markets in Asia. Long-term investors should like this geographic focus. Certainly, if growth continues to materialize in the company’s core markets, much more potential could be on the long-term horizon for shareholders.

The company’s diversified businesses include a range of non-insurance lines of business. Therefore, I do not see Manulife as a pure game in the insurance business. On the contrary, I think this company is more of an integrated finance juggernaut.

The company’s 4.5% dividend yield is currently one of the best in this segment. Indeed, this bond proxy should be on the list of best stocks for all long-term investors right now.

Do you like these premium choices? Here are some high growth options to consider right now:

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of the board of directors of The Motley Fool. Foolish contributor Chris MacDonald has no position on the stocks mentioned. David Gardner owns shares of Amazon. The Motley Fool owns shares and recommends Amazon. The Motley Fool recommends BlackBerry, BlackBerry and FORTIS INC and recommends the following options: January 2022 long calls at $ 1920 on Amazon and January 2022 short calls at $ 1940 on Amazon.

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