A Perfect TFSA Pair for 2026: 2 Stocks I’d Buy Now

There really is no perfect stock for the core of your TFSA forever fund. But there are many names out there that are pretty close to it. With wide economic moats, strong earnings growth, superior management teams, a fairly high growth ceiling (in other words, a hefty total addressable market to go after), and, most importantly, a valuation that currently makes sense, you might have a name that’s a pretty solid fit for your TFSA, especially if your goal is to build wealth over the course of many decades.

What’s even better than a “perfect” stock is a pair of names that can form a terrific one-two combo that can help score knockout results over the next 10–15 years or more. Indeed, it’s hard to tell what the future holds, given how fast technology – especially with AI, agents, quantum computing, and all the sort – has been moving in these past couple of years. Still, some moats were built to stand up to the disruptive forces of technology and even put them to good use once they achieve mainstream adoption.

In other words, I have no idea when quantum will be the next step, but when it comes to firms that can pivot and adapt, you can leave the timing and game plan to the capable managers running the show. In this piece, we’ll check out a pair of names that I think could be better bought together for the long haul, preferably in a TFSA portfolio.

Royal Bank of Canada

Royal Bank of Canada (TSX:RY) is about as premium as premium blue chip stocks get. The name is at a new all-time high of over $260 per share after soaring close to 50% in the past year. That’s ridiculous for a bank stock. And while the banking tailwinds have been furious, I do think that Royal Bank’s tech-savvy is worth paying up for relative to other banks. It’s one of the leaders when it comes to adopting AI technology as applied to the field of banking and beyond.

As such, the 18 times trailing price-to-earnings (P/E) multiple, while a bit excessive, seems like a good value to me, provided you can ride out any pullbacks that are sure to come your way over the next couple of months and quarters. If you’re in it for the next 15 years, that volatility matters less, especially as Royal Bank looks to actually monetize AI and other technologies.

AI isn’t just a buzzword. Royal Bank is poised to realize serious productivity gains in the form of sales growth and cost reductions. It’s time to take the AI boom seriously when it comes to the banks. And at these prices, I don’t think the full magnitude of the AI benefits (from agents, vibe-coding, and all the sort) is priced in, even as the low-hanging fruit get picked by the end of the year.

Celestica

Celestica (TSX:CLS) has been a massive AI infrastructure winner, given its role as an EMS provider, and it’s becoming a Canadian tech name that’s worth stashing away for the long run. Shares recently dipped after a good quarter to go with a guidance boost, but the price of admission, I think, worked against the name. Now at 43 times trailing P/E, I view the AI data centre play as a fantastic way to gain exposure to the space at a fairly decent price point.

There’s good visibility into the near future after that nice guide. And with AI hardware really stealing the show as software takes a hit, I think CLS stock is one of those hyper-growth plays that might pay off big in the next decade and beyond, especially if AI lives up to the promise.

The post A Perfect TFSA Pair for 2026: 2 Stocks I’d Buy Now appeared first on The Motley Fool Canada.

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More reading

• Top Canadian Stocks to Buy Right Away With $2,000
• How Your 2026 TFSA Contribution Could Eventually Reach $280,000 or More
• 3 Stocks for Canada’s $9 Billion AI Bet
• 5 Dividend Stocks Everyone Should Own
• 2 Canadian Crypto Stocks I’d Avoid (and 1 I’d Buy Instead)

Fool contributor Joey Frenette has no position in any of the stocks mentioned. The Motley Fool recommends Celestica. The Motley Fool has a disclosure policy.