Written by Aditya Raghunath at The Motley Fool Canada
The time is ripe to buy quality, oversold Canadian stocks trading at a discount. As central banks are forecast to cut interest rates multiple times in 2024, several TSX stocks are positioned to deliver outsized gains in the next 12 months.
Here are two such oversold Canadian stocks you can consider buying right now.
Gildan Activewear stock
Valued at $7.5 billion by market cap, Gildan Activewear (TSX:GIL) stock trades 21% below all-time highs, raising its dividend yield to 2.3%. A leading manufacturer of everyday basic apparel, Gildan sells its products to customers via a network of retail stores as it continues to gain traction on e-commerce platforms.
It owns and operates vertically integrated, large-scale manufacturing facilities located in Central America, the Caribbean, North America, and Bangladesh. Gildan is among the most recognizable brands in Canada,…
