Two Canadian Stocks With the Momentum to Outperform in 2026

Investors seeking outsized returns in 2026 might want to look beyond the broad market and focus on Canadian companies that not only have solid fundamentals but also momentum catalysts that could fuel further gains. Two names that fit this description are Alimentation Couche-Tard (TSX: ATD.B) and Lightspeed Commerce (TSX: LSPD) — both showing characteristics that could help them outperform peers this year and beyond.

Alimentation Couche-Tard is a global convenience store operator with thousands of locations across North America, Europe and Asia. The company’s extensive network and strong cash flow provide a base that’s both resilient and adaptable to changing consumer patterns. What sets Couche-Tard apart is its operational efficiency and scale — it consistently improves margins by optimizing fuel sales, private-label products and convenience items, which increases per-store profitability. In addition, its disciplined acquisition strategy selectively adds assets that enhance long-term cash flow rather than diluting returns. With these drivers in place, Couche-Tard is positioned to benefit from stable demand and margin expansion, key ingredients for sustained share-price appreciation.

Lightspeed Commerce operates a cloud-based point-of-sale and payments platform used by retailers, restaurants and other small to medium enterprises. While the stock has experienced volatility in recent years, its growth story remains intact: Lightspeed continues to expand its product suite and customer base, and it increasingly monetizes higher-margin services such as software subscriptions, payment processing and lending solutions for merchants. The company’s pivot toward integrated commerce technologies gives it a broader addressable market and the potential to capture recurring revenue — a major win for valuation multiples that reward predictable cash flows.

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Both stocks also benefit from broader secular trends that could support performance well into 2026. Couche-Tard benefits from ongoing consumer spending on convenience retail and fuel, while Lightspeed rides the wave of digital transformation in commerce.

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Investors should always consider risks — including macroeconomic headwinds and sector-specific volatility — but for those with a tolerance for growth and longer time horizons, Alimentation Couche-Tard and Lightspeed Commerce offer compelling setups that could generate meaningful returns as their respective growth drivers play out this year.