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While a higher interest rate environment restricted the upside in Brookfield Renewable Partners stock in 2023, it remains well positioned to deliver solid financials and enhance shareholders’ return through higher dividend payouts in 2024. Further, the company’s highly contracted business and long-term power-purchase agreements enable it to generate solid cash flows and drive its dividend payouts. It owns a highly diversified portfolio of renewable energy assets and has a robust development pipeline. Brookfield Renewable Partnersīrookfield Renewable Partners ( TSX:BEP.UN) is a pure-play renewable energy company and a top stock to capitalize on the stellar demand for clean energy. Further, Shopify’s transition toward an asset-light model, cost-cutting measures, and initiatives to ease margin pressure will enable the company to generate sustainable earnings, which will lift its share price. Shopify is well positioned to capitalize on the structural shift in selling models towards omnichannel platforms and will likely deliver durable revenue growth. The e-commerce platform provider continues to deliver solid sales growth led by strength in its gross merchandise volume (GMV) and higher merchant solutions revenue. Despite the notable growth in its value, this technology stock is a must-have in your portfolio for 2024. Shopify ( TSX:SHOP) stock bounced back sharply and more than doubled in 2023. Meanwhile, the expected decline in interest rates, economic improvement, and investors’ growing appetite for risky investments suggest that equities could continue to appreciate in 2024.Īgainst this backdrop, let’s look at five incredible Canadian stocks with solid fundamentals and potential to deliver stellar returns. Written by Sneha Nahata at The Motley Fool CanadaĬanadian stocks marked a recovery in 2023, as the economy turned out better than feared.
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