Macro and geopolitical uncertainty and valuation concerns could keep the stock market volatile. However, some Canadian corporations continue to perform well, regardless of market situations, making them the best Canadian stocks to buy and hold forever. With this background, here are three fundamentally strong stocks to buy and hold for the long term.
Canadian stock #1
Shares of Canada’s food and pharmacy giant Loblaw (TSX:L) are among the best stocks to buy and hold forever. This Canadian blue-chip stock is backed by a defensive business model, which generates consistent sales and earnings, which supports its dividend payouts and stock price. Besides providing income and growth, Loblaw stock will add stability to your portfolio.
Loblaw’s shares have a strong track record of outperforming the S&P/TSX Composite Index. Over the past year, Loblaw’s stock price has surged by more than 58%, compared to the benchmark index’s…
