3 of the Best Stocks TFSA Investors Can Buy Now

The Tax-Free Savings Account (TFSA) is certainly one of the most important investing vehicles for Canadians. This account allows investors to put after-tax income to work for retirement, with all capital gains being able to be pulled out tax-free, when the time comes to take distributions.

That ability to grow one’s wealth over many decades and not have to pay taxes on what can be substantial gains is important. Most financial experts will suggest investors put their higher-growth stock picks in a TFSA, with other registered retirement accounts better suited for more value or dividend-focused investments.

So, without further ado, let’s dive into three of the top Canadian growth stocks I think fit well within a TFSA for those thinking long-term.

Shopify

E-commerce platform provider Shopify (TSX:SHOP) continues to headline my list of top Canadian growth ideas, for good reason.

The company’s recent earnings results paint a very rosy picture for investors considering how quickly Shopify will be able to grow in this uncertain macro environment. Indeed, with trade wars and other geopolitical issues picking up, questions around how robust e-commerce growth would be have increased.

That said, the fact that Shopify reported 32% revenue growth and beat in terms of its consensus EPS target on a year-over-year basis is notable. With a free cash flow margin of 18% (it was 16% prior to this print) and plenty of growth runway ahead, Shopify is a top Canadian growth stock I think is worth buying on this dip.

Boyd Group

One growth stock I haven’t touched on much of late is Boyd Group (TSX:BYD).

Some of this probably has to do with the fact that Boyd stock has lagged many of its peers, and some investors have begun to question whether this autobody and repair giant can return to its prior hyper-growth days.

Via acquiring small and mid-sized (mostly family-run) chains of auto body and repair shops, Boyd has grown into an absolute behemoth in both the Canadian and U.S. markets. As such, with prominent market share has come solid pricing power, which has driven robust margins and EPS growth in recent quarters.

In fact, in Q3, the company saw top-line growth of 5%, but gross profit growth of 6.5%. That’s the kind of trend I like to see, even if these absolute numbers are lower than I’d like. I think growth will pick up in the coming quarters, given the reality that most vehicle owners are seeing their wallets pinched from inflation and may be more amenable to fixing their car than replacing it moving forward.

Constellation Software

Now, for one of my growth picks that’s really underperformed most of its peers in the market this year – Constellation Software (TSX:CSU).

Looking at the chart above, it has been an ugly 12-month period for investors in this once-high-flying Canadian growth stock. In fact, investors can go back all the way to late-2023 to look at the last time shares of CSU stock traded at this level.

There are certainly headwinds that have played into a bearish narrative around this stock. These range from concerns around slowing acquisition growth (in a similar way to Boyd), and concerns around overall ROI and ROE metrics, which have been historically strong.

I think Constellation’s recent results, which showed still-meaningful revenue growth of 16% (driven by 5% organic growth) are solid. I’m not going to sugarcoat it – these weren’t the results the market was clearly hoping for. But I do think that $281 million in quarterly cash flow is significant and enough to fund more deals down the line. For those thinking the same way, CSU stock looks like a buy here.

The post 3 of the Best Stocks TFSA Investors Can Buy Now appeared first on The Motley Fool Canada.

Should you invest $1,000 in Boyd Group Income Fund right now?

Before you buy stock in Boyd Group Income Fund, consider this:

The Motley Fool Stock Advisor Canada analyst team identified what they believe are the 15 best stocks for investors to buy now… and Boyd Group Income Fund wasn’t one of them. The 15 stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 … if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have $21,105.89!*

Now, it’s worth noting Stock Advisor Canada’s total average return is 95%* – a market-crushing outperformance compared to 72%* for the S&P/TSX Composite Index. Don’t miss out on our top 15 list, available when you join Stock Advisor Canada.

See the 15 Stocks #start_btn6 { background: #0e6d04 none repeat scroll 0 0; color: #fff; font-size: 1.2em; font-family: 'Montserrat', sans-serif; font-weight: 600; height: auto; line-height: 1.2em; margin: 30px 0; max-width: 350px; text-align: center; width: auto; box-shadow: 0 1px 0 rgba(0, 0, 0, 0.5), 0 1px 0 #fff inset, 0 0 2px rgba(0, 0, 0, 0.2); border-radius: 5px; } #start_btn6 a { color: #fff; display: block; padding: 20px; padding-right:1em; padding-left:1em; } #start_btn6 a:hover { background: #FFE300 none repeat scroll 0 0; color: #000; } @media (max-width: 480px) { div#start_btn6 { font-size:1.1em; max-width: 320px;} } margin_bottom_5 { margin-bottom:5px; } margin_top_10 { margin-top:10px; }

* Returns as of November 17th, 2025

More reading

• Shopify Made a Transformative Deal With OpenAI: Is the Stock a Buy?
• Got $7,000? Your TFSA Wants You to Buy These Stocks
• 3 Top Canadian Stocks to Enhance Your TFSA
• Top Canadian Stocks to Buy Now for Long-Term Growth
• 2 Dead-Simple Canadian Stocks to Buy With $500 Right Now

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 Constellation Software. The Motley Fool has a disclosure policy.