3 Magnificent Canadian Growth Stocks I’m Buying in 2026

Most discussion in the financial media around top growth stocks to buy has centred on the so-called “Magnificent 7” group of mega-cap tech stocks in the U.S. Of course, these companies are integral to the performance of the U.S. (and global) stock markets, so there’s good reason for this.

That said, I’d argue there are some world-class growth stocks in Canada worth considering for long-term gains. Here are three of my top picks in this regard right now.

Celestica

Celestica (TSX:CLS) is a top provider of supply chain management solutions to a broad range of clientele that has seen its share price surge as a result of its ties to the AI trade.

The company’s strong data centre programs ramp up stands out to me as a key reason to buy this stock. This is not a one-off spike, according to Celestica’s management team, but rather a long-term AI infrastructure play, with Celestica bolstering its forward guidance as a result of its recent earnings beat.

The company brought in an impressive $1.58 in EPS, up 52% on a year-over-year basis, and I think there’s more where that came from. That’s because the company’s margin expansion and new business lines in the AI/ML compute sectors could be massive.

Still trading well off its recent peak, at 30 times forward earnings, CLS stock looks like a steal to me.

Kinaxis

In the world of Canadian stocks with the most potential upside due to AI integrations, Kinaxis (TSX:KXS) is among my top picks.

The company’s status as a leading supplier of supply chain software has been bolstered by its AI integrations, with the company seeing relatively strong growth of 11% year-over-year on its top line. Importantly, its software as a service (SaaS) revenue increased 17%, meaning the company’s recurring revenue model is indeed playing out like investors expected.

With robust 25% gross margins and net income surging 150% year-over-year, this is a company with some clear fundamental catalysts worth considering. The idea that both growth and margin expansion can take place at the same time is one that investors are starting to understand, though this stock is trading off its recent high.

I think if market sentiment improves, Kinaxis is one top player that can really take off. With the launch of the company’s “Maestro agents” AI capabilities, and a number of partnership expansions, this is a stock with big upside ahead in my view.

OpenText

Another top software player I think could have meaningful upside in 2026 is OpenText (TSX:OTEX).

Looking at the chart above, it’s clear this is another Canadian tech name that’s been stuck within a range. Now trading near the midpoint of its five-year range, the question is whether the next move will be higher or lower from here.

I think the discussion around OpenText has shifted from one of being a software stock to a cloud player. The company’s strong growth in its higher-margin cloud business is impressive, with this unit bringing in 21% growth this past quarter. That’s much better than the company’s total 1.5% total revenue growth this past quarter, signalling to investors that if you believe OpenText can become a meaningful player in the cloud race, this is a stock to own.

I think the jury is still out on that front, but I’m inclined to give OpenText the benefit of the doubt.

The post 3 Magnificent Canadian Growth Stocks I’m Buying in 2026 appeared first on The Motley Fool Canada.

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More reading

• Tech Stocks That Look Like Deals After the Recent Sell-Off
• 1 Megatrend Shaping Canadian Investments for 2026
• The 3 Most Popular Stocks on the TSX Today: Do You Own Them?
• 3 of the Best Growth Stocks on the TSX Today
• If I Could Only Buy 3 Stocks in the Last Month of 2025, I’d Pick These

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