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With inflation showing signs of easing, the Bank of Canada slashed its benchmark interest rates by 25 basis points to 4.75% last week. It was the first rate cut since March 2020. Lower interest rates could boost economic activity, thus driving financials and stock prices. So, amid the improving macro environment, I am bullish on the following three top Canadian stocks.
Celestica
First on my list would be Celestica (TSX:CLS), which has been witnessing solid buying over the last three years, with its stock price rising by 635%. Its impressive performance and exposure to high-growth markets, such as electronics manufacturing services and artificial intelligence, have raised investors’ confidence, driving its stock price. Given the expanding addressable market and attractive valuation, I believe the uptrend will continue despite the recent increase.
The growing usage of artificial intelligence and machine…
