10 Best Canadian Stocks to Buy Under $20

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1. TELUS Corporation (NYSE:TU)

TELUS Corporation (NYSE:TU) is one of the best Canadian stocks to buy under $20. On February 12, TELUS reported record financial results for 2025, headlined by a full-year free cash flow of $2.2 billion, an 11% increase over the previous year. The company maintained its position as an industry leader in customer growth, adding 1.1 million mobile and fixed customers. Furthermore, TELUS achieved its 12th straight year of postpaid mobile phone churn below 1%, ending 2025 with a churn rate of 0.97%.

Despite strong customer additions, the company is navigating a highly competitive wireless environment characterized by irrational promotional tactics. While the telecom segment remains robust, the business saw a decline in fixed data revenue and a 5% year-over-year dip in TELUS Digital’s adjusted EBITDA.

In 2026, TELUS Corporation (NYSE:TU) is leaning heavily into high-growth areas, specifically AI-enabling capabilities, which saw revenue jump 44% in the final quarter. The company’s plan focuses on achieving double-digit EBITDA growth within its digital and telehealth divisions while continuing to extract synergies from its LifeWorks integration.

TELUS Corporation (NYSE:TU), together with its subsidiaries, operates as a telecommunications company in Canada and internationally. It operates through TELUS Technology Solutions, TELUS Health, and TELUS Digital Experience segments.

While we acknowledge the potential of TU to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TU and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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