2 Growth Stocks Set to Soar Higher in 2026

Canadian growth stocks haven’t necessarily been the key driver of the incredible performance the TSX posted in 2025. Indeed, plenty of other traditionally more stable or boring sectors contributed in a big way to the 28% annual return seen in the TSX last year. Gold miners and financial companies led the way in this regard.

That said, there are a couple of top Canadian growth stocks I think can post solid returns this year. Here’s why I think these companies are solid buying opportunities right now, and what investors may want to consider with each.

Shopify

Among the most notable and recognizable growth stocks in Canada, Shopify (TSX:SHOP) is one of the most impressive growth stocks over the last decade long-term investors have benefited from owning.

Looking at the stock chart above, it doesn’t really tell the whole story. Investors have to go back to this company’s initial public offering (IPO) to really discover the compounding effect Shopify has had for those who have patiently held.

Now, there’s a solid growth story coming off of 2022’s lows, when Shopify stock was trading at less than $50 per share. Recently breaching the $250 mark, that’s good for an approximate five-fold return in a little more than three years.

I’m not sure if the same sort of returns are possible over the next three years, but I think Shopify is set up well for a strong 2026. With consumer spending (particularly in the e-commerce space) surging these past quarters, Shopify’s forward growth rate should improve alongside its valuation. In such an environment, this is a stock that’s shown its ability to provide meaningful capital appreciation, and that’s my expectation for 2026.

Celestica

Celestica (TSX:CLS) is one of the top Canadian stocks for investors looking to play the AI trend. Indeed, looking at the company’s chart below, it’s possible to overlay this chart with many other AI-related names in the market.

Celestica appears to have successfully transformed itself from a cyclical EMS name into a high-growth AI infrastructure platform with structurally higher margins. It’s this fundamental improvement that’s been the key driver of Celestica’s impressive growth since May 2024, with shares surging roughly fivefold over that period.

Again, the jury is out on whether this growth can continue from here. But with adjusted EPS surging more than 50% year over year this past quarter, and strong operating leverage tied to the company’s ability to capitalize on surging capital expenditures tied to the AI infrastructure buildout, makes this a stock I think is definitely worth considering right now.

Celestica is a stock that’s far from cheap, but it’s one I think can grow into its multiple easily in the quarters and years to come. Assuming this AI spending spree continues in 2026, this company could be one of the biggest winners in the market this year.

The post 2 Growth Stocks Set to Soar Higher in 2026 appeared first on The Motley Fool Canada.

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More reading

• 3 TFSA Hacks to Build a $1 Million Tax-Free Nest Egg
• Shopify Stock: The Easy Money’s Been Made
• Meet the Canadian Stock That Continues to Crush the Market
• Outlook for Celestica Stock in 2026
• Shopify vs Telus: Which is a Better Buy?

Fool contributor Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Shopify. The Motley Fool recommends Celestica. The Motley Fool has a disclosure policy.