2 Value Stocks That Look Especially Attractive This November

After years of strong portfolio gains, many investors may be considering rebalancing or reducing exposure to the market’s highest flyers. While letting winners run has been a successful long-term strategy, undervalued stocks often catch up when economic uncertainty grows or when risk appetite shifts. We may not be there yet — growth stocks continue to outperform — but investors who have embraced excessive risk could face challenges ahead.

Also Read: Investing for Beginners Canada

For those leaning toward a more defensive, value-oriented approach, here are two Canadian stocks that stand out as compelling buys this November.

Suncor Energy

Suncor Energy (TSX:SU), one of Canada’s largest integrated energy companies, has experienced its share of volatility over the past five years, largely due to fluctuating commodity prices. When Western Canadian Select (WCS) crude last hit $100 per barrel in 2022, Suncor’s stock climbed to roughly $45. What’s notable today is that with WCS around $50 per barrel, the stock trades closer to $60 — a clear sign that investors view Suncor as a stronger, more resilient business than during the pandemic years.

The company continues to benefit from low breakeven costs, consistent cash generation, and a solid dividend. At approximately 14 times earnings, Suncor offers an appealing valuation for long-term investors seeking stability and reliable income.

Also Read: Undervalued Canadian Stocks

Toronto-Dominion Bank

Toronto-Dominion Bank (TSX:TD) has rallied nearly 50% over the past year, yet still trades at a deeply discounted valuation. With a price-to-earnings ratio below 10, the market appears skeptical of the recent rebound. If TD were to return to its historical multiple of around 12 times earnings, the stock would have roughly 20% upside based on today’s price.

Given TD’s dominant market position in Canada and the U.S., strong profitability, and steady growth outlook, such a re-rating seems increasingly plausible. Add in a dividend yield near 3.7%, and TD offers a compelling total-return profile. For value-focused investors, it remains one of the top opportunities on the TSX.