Investing in quality stocks and then holding them for more than a decade can help you benefit from the power of compounding. It’s crucial to identify companies that have the potential to grow their earnings over time, which inevitably translates to outsized returns.
Here are two such TSX stocks you can buy now and hold for the next 10 years.
Nuvei stock
Valued at a market cap of $4.6 billion, Nuvei (TSX:NVEI) is a Canada-based fintech company growing at an enviable pace. Down 80% below all-time highs, investors have the opportunity to buy a quality stock at a discount and benefit from market-beating gains over time.
Unlike several other growth stocks, Nuvei reports consistent profits and is forecast to end 2024 with adjusted earnings of $2.9 per share. So, priced at 11.3 times forward earnings, Nuvei stock is very cheap, given its profits are forecast to grow by 20% annually in the next five years.
Nuvei offers payment…
