Written by Sneha Nahata at The Motley Fool Canada
The stock market has been trending higher even in the face of macroeconomic uncertainties. However, many Canadian stocks with fundamentally sound businesses still have the potential to rise further. Factors like expectation of interest rate reductions, increase in consumer discretionary spending, the integration of artificial intelligence (AI) technology, and anticipation of higher corporate earnings are expected to drive Canadian stocks higher.
Against this backdrop, here are five Canadian stocks to buy now and hold for at least five years.
Constellation Software
Constellation Software (TSX:CSU) stock is up about 27% year to date. As a specialized software and services provider, this Canadian tech company stands to benefit from emerging technology trends and likely outperform the broader markets over the next five years. Moreover, its focus on acquiring…
