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The equity market remains buoyant as concerns about a recession diminish. Further, expectations of interest rate cuts and improvement in the macro environment provide a solid platform for future growth. As the operating environment has improved, let’s zoom in on five fundamentally strong Canadian stocks set to soar in 2024.
Aritzia
Shares of clothing company Aritzia (TSX:ATZ) are up about 26% year to date. The stock is likely to rise further in 2024, led by its efforts to accelerate sales growth through the opening of new boutiques and the introduction of fresh styles. Additionally, its focus on improving its online customer experiences and expanding its omnichannel offerings augurs well for future growth.
While the company faces tough year-over-year comparisons in the near term, it is poised to see an acceleration in sales and earnings-per-share (EPS) growth rate. Management expects the top…
