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The equity market remained resilient and trended higher over the past year despite concerns about a recession. Meanwhile, moderation in inflation and an expected rate cut will likely push the stock markets higher in 2024.
Against this background, let’s look at five incredible Canadian stocks to buy in May 2024. These companies have strong fundamentals, solid growth prospects, and the potential to deliver above-average returns in the coming years.
Aritzia
Shares of clothing company Aritzia (TSX:ATZ) recovered from their lows and are up about 23% year to date. While the stock has delivered above-average returns so far in 2024, it has further room for growth. Aritzia is focusing on opening new boutiques and introducing fresh styles, which will drive its top and bottom lines. Further, its focus on enhancing customer experiences and expanding omnichannel offerings augurs well for future growth.
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