The rally in Canadian stocks continues in 2021, and I expect the momentum to sustain on the back of the recovery in demand, the vaccination, and an improving economic outlook. With the growth in the background, I have chosen two TSX stocks that could deliver outsized returns in 2021 and beyond. So, if you’ve got $2,000 to invest in equities, consider buying these high-growth TSX stocks right now.
I expect goeasy (TSX:GSY) to deliver robust returns in 2021 and over the next decade, thanks to its high-growth business and high-quality earnings base. I believe the uptick in economic activities and easing lockdown measures are likely to act as a strong growth catalyst for goeasy, driving its consumer loan portfolio. Further, a lower cost of borrowing and cost-control measures are expected to cushion its bottom line and, in turn, drive its stock higher.
The non-prime leasing and lending company is witnessing improvement in loan originations. Meanwhile, its omnichannel model, geographic expansion, and increased penetration of secured loans and risk-adjusted rate further strengthen my bullish view on goeasy stock.
goeasy projects its top line to increase at a double-digit rate over the next three years, reflecting continued growth in its consumer loan portfolio, the opening of new easyfinancial locations, and expansion of its high-growth point-of-sale channel. Meanwhile, improving operating leverage from scale is expected to drive its earnings.
goeasy stock is up about 30% on a year-to-date basis and could continue to rise higher with the improvement in its financial and operating performance. Investors are also expected to gain big from its healthy dividend payments. It paid dividends since 2004 and has raised the same at a CAGR (compound annual growth rate) of 34% over the past seven years. Recently, it announced a 47% growth in its annual dividends and is offering a decent yield of 2.1%.
Lightspeed (TSX:LSPD)(NYSE:LSPD) has delivered incredible returns in 2020 and is up over 832% since its March lows. Despite the recent surge in its stock, I expect the rally to sustain on the back of increased demand for its cloud-based omnichannel platform.
Lightspeed’s ability to drive revenues, expand the customer base, launch new products, and acquire accretive businesses position it well to benefit from the structural shift in selling models towards the omnichannel platform.
Further, strong momentum in its payment business and growth in the number of customers adopting more than its one software module augurs well for growth and is likely to drive its average revenue per user higher.
Thanks to the favourable industry trends and a large addressable market, I expect Lightspeed’s business to grow rapidly over the next decade. Its diverse customer base, the addition of new customer solutions and modules to its platform, and significant growth opportunity in its payment-processing business provide a strong underpinning for growth. Furthermore, its ability to build value through acquisitions and expand into newer markets and business verticals bode well for growth.
Though both these stocks have rallied significantly in the recent past, I see further upside. Strong secular industry trends, a large addressable market, accretive acquisitions, and growing scale are likely to drive their stocks higher.
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Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool owns shares of Lightspeed POS Inc.
30 new COVID-19 cases, 1 death reported in Manitoba on Sunday – CBC.ca
There are 30 new COVID-19 cases in Manitoba and one more person has died from the illness, the province’s online coronavirus dashboard says.
Manitoba’s five-day test positivity rate is now 3.2 per cent, the dashboard says, down slightly from 3.3 on Saturday.
The province is no longer issuing COVID-19 news releases on weekends, which means updates on Saturdays and Sundays come from Manitoba’s online dashboards.
Those data portals offer less information than what’s typically included in a news release. For example, they do not provide any information on the age or health region of people who died from the illness.
Those and other details are expected to be revealed in the province’s next news release on Monday.
There are still 103 Manitobans hospitalized after getting COVID-19 and the number of people in intensive care rose by one to 26, the dashboard says.
Manitoba has now reported 1,172 deaths linked to COVID-19. The province’s seven-day new case average sank to just under 44.
On Saturday, the province did 1,465 more tests for the illness, the dashboard says, bringing the total number of swabs completed since the beginning of the pandemic to 865,786.
As of Sunday, Manitoba has fully vaccinated 66 per cent of its eligible population against COVID-19 while 78.6 per cent have at least one dose, the province’s online vaccine dashboard says.
That brings the province slightly closer to its final reopening plan goal of having 80 per cent with at least one dose and at least 75 per cent with both by Sept 6.
Since the beginning of the pandemic, 57,446 people in Manitoba have tested positive for COVID-19. The dashboard says 55,719 of them are considered recovered, while 555 are still deemed active cases.
Ontario reports 172 new COVID-19 cases and 2 more deaths; 7-day average remains unchanged – CP24 Toronto's Breaking News
Ontario reported fewer than 200 new COVID-19 cases and two more deaths on Sunday, as the seven-day rolling average remains unchanged from yesterday.
Provincial health officials logged 172 new infections today, up from 170 on Saturday but down from 177 a week ago.
The province reported 192 cases on Friday, 185 on Thursday and 135 on Wednesday.
The seven-day rolling average now stands at 159, unchanged from Saturday but up slightly from a week ago when it was 153.
The province’s virus-related death toll is 9,313.
Another 144 people recovered from the virus yesterday, resulting in 1,450 active cases across the province.
Ontario labs processed 13,902 tests in the past 24 hours, down from 19,131 the previous day.
The drop in testing contributed to a slight day-over-day rise in the positivity rate to 1.1. per cent, compared to 0.8 per cent on Saturday, according to the Ministry of Health.
Another 152 lab-confirmed cases of variants of concern were identified in Ontario in the past 24 hours.
In the Greater Toronto Area, 48 cases of COVID-19 were logged in Toronto, 23 in Peel Region, nine in York Region, 11 in Durham and seven in Halton.
There are currently 127 people in intensive care units across the province due to the virus and 81 of those patients are breathing with the help of a ventilator.
To date, there have been more 549,300 lab-confirmed cases of the coronavirus and 538,565 recoveries since January 2020.
Over 8.5 million people are fully vaccinated against the virus after receiving two doses of approved vaccines.
More than 18.9 million doses of vaccine have been administered in Ontario since mid-December, with 103,812 shots into arms yesterday alone.
The numbers used in this story are found in the Ontario Ministry of Health’s COVID-19 Daily Epidemiologic Summary. The number of cases for any city or region may differ slightly from what is reported by the province, because local units report figures at different times.
EU regulator endorses use of Moderna's COVID-19 shot for children – Al Jazeera English
European Medicines Agency gives all clear for vaccine to be used in children aged between 12 and 17.
The European Union’s medicines regulator has recommended authorising Moderna’s COVID-19 vaccine for use in children aged between 12 and 17, marking the first time the shot has been approved for people under 18.
In a decision on Friday, the European Medicines Agency (EMA) said research in more than 3,700 children of 12 to 17 years of age showed that the shot produced a comparable antibody response to that seen in 18- to 25-year-olds.
Use of the vaccine, Spikevax, will be the same in adolescents as in people over 18, the EMA said.
Formal approval by the European Commission – the EU’s executive arm – is needed to start rolling out the vaccine for teenagers. The body typically follows EMA recommendations.
Until now, the vaccine made by Pfizer and its German partner BioNTech has been the only option for use in children as young as 12 in North America and the EU.
Vaccinating children has been considered important for reaching herd immunity and in light of the rapid spread of the highly contagious Delta variant.
Most children with COVID-19 develop only mild symptoms or none. Yet children remain at risk of becoming seriously ill and can spread the virus.
‘Benefits outweigh the risks’
Moderna said in May that its vaccine was found to be safe and effective in teenagers. Hundreds of millions of doses of the shot have already have been administered to adults.
The EMA said common side effects in teenagers after vaccination with Spikevax were similar to those seen in older people.
But due to a smaller study size, the trial could not detect new uncommon side effects or estimate the risk of known ones such as myocarditis and pericarditis.
“The overall safety profile of Spikevax determined in adults was confirmed in the adolescent study; the CHMP (Committee for Medicinal Products for Human Use) therefore considered that the benefits of Spikevax in children aged 12 to 17 outweigh the risks,” the EMA said.
Heart inflammation such as myocarditis and pericarditis has been listed by the EMA as a possible but rare side effect from use of mRNA vaccines such as Moderna’s and Pfizer’s in adults.
Spikevax is already being used in the EU for people over 18, and in the United States and Canada.
Moderna has also sought authorisation in the US and Canada for its use in adolescents.
But with global vaccine supplies still tight, much of the world still is struggling to immunise adults, let alone children.
Agencies including the World Health Organization have urged rich countries to donate their doses to the developing world – where fewer than 2 percent of people have been vaccinated – rather than moving on to inoculate their less vulnerable populations.
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