5 Best Canadian Stocks to Buy Now

3. Telus Corporation (NYSE:TU)

No of HFs: 51

Total Value of HF Holdings: $1.15 Billion

TU is the third-best Canadian stock to buy now. The company is known for their engagement in the business of providing communication products and services. These services include data, internet, voice and entertainment video, etc. The company recently announced their agreement to acquire Lionbridge Al through Telus International. The acquisition will be at a purchase price of approximately C$1.2 billion (approximately US$935 million) consisting of debt and equity, subject to customary closing adjustments. Closing is expected to occur on December 31, 2020. President and CEO of Telus, Darren Entwistle said,

“Today’s announcement advances TELUS’ commitment to harness the power of technology to provide outstanding customer experiences on a global basis, while accelerating the digital transformation and strategic growth journey of TELUS International. The acquisition will add key capabilities and diversity to TELUS International’s suite of next-generation digital solutions consistent with the ongoing execution of its growth agenda. We continue to move forward with our plans for the TELUS International IPO, which is targeted for the first quarter of 2021,”