By Ketki Saxena
Investing.com -- Equity analysts at Desjardins Securities announced their top picks TSX picks for next year highlighting the stocks “that should perform best given expected strong growth opportunities and catalysts.”
They also noted that “stock picking will be paramount” in an environment expected to remain turbulent into next year. The analysts further announced key trends expected in equities in the second half of next year as interest rates taper off and provide a tailwind to stocks. These include
“(1) a shift from ‘risk off’ to ‘risk on’ trades, eg growth names (technology, healthcare), consumer discretionary vs staples, industrials, financials, etc;
(2) a recovery in interest rate sensitive sectors like utilities and IPPs, REITs, telecom & media, etc;
(3) deglobalization, onshoring and automation should support industrials and transportation;
(4) ongoing electrification (EVs, etc) could help IPPs, utility services and the battery metals sector.”
Here’s the list of Desjardins’ Securities Top TSX Stock Picks for 2023:
- Advantage Oil & Gas Ltd. (TSX:AAV) with a “buy” rating and $15.50 target.
- Ag Growth International Inc (TSX:AFN). with a “buy” rating and $55 target.
- Alimentation Couche Tard Inc (TSX:ATD) Inc. with a “buy” rating and $72 target.
- Atex Resources Inc (TSXV:ATX). with a “buy” rating and $1.20 target.
- Boardwalk REIT (TSX:BEI_u) with a “buy” rating and $64 target.
- Bombardier Inc (TSX:BBDb). with a “buy” rating and $82 target.
- Boralex Inc (TSX:BLX). with a “buy” rating and $47 target.
- Capital Power Corp (TSX:CPX). with a “buy” rating and $57 target.
- Dream Industrial REIT (TSX:DIR_u) with a “buy” rating and $15.50 target.
- goeasy Ltd (TSX:GSY) with a “buy” rating and $185 target.
- GoGold Resources Inc. (TSX:GGD) with a “buy” rating and $3.55 target.
- H2O Innovation Inc (TSX:HEO) with a “buy” rating and $3.50 target.
- InterRent REIT (TSX:IIP_u) with a “buy” rating and $16.50 target.
- Karora Resources Inc (TSX:KRR). with a “buy” rating and $6.50 target.
- Northland Power Inc . (TSX:NPI) with a “top pick” rating and $49 target.
- Quebecor Inc (TSX:QBRa). with a “buy” rating and $35 target.
- Quisitive Technology Solutions Inc (TSXV:QUIS). with a “buy” rating and $1.40 target.
- Suncor Energy Inc (TSX:SU). with a “buy” rating and $57 target.
- Sun Life Financial (TSX:SLF) Inc. with a “buy” rating and $69 target.
- TFI International Inc (TSX:TFII). with a “buy” rating and $172 target.
- Toronto-Dominion Bank (TSX:TD) with a “buy” rating and $105 target
- WSP Global Inc (TSX:WSP). with a “buy” rating and $186 target.