2026 has already proved to be an fascinating 12 months for TSX shares. Synthetic intelligence (AI) issues have pushed software program shares down even additional than they have been pushed in 2025. Likewise, promoting has moved to different sectors, similar to skilled companies.
Frankly, I believe this commerce has been overhyped in some ways. For contrarian traders, it presents enticing shopping for alternatives. Beneath are three high TSX shares to purchase proper now. Two of those shares are overwhelmed down because of the AI issues, and one ought to prosper no matter what AI does.
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A beaten-up TSX software program inventory
Constellation Software program (TSX:CSU) is down 51% previously 12 months. For present shareholders, it has been a reasonably powerful time. Nevertheless, for brand new shareholders, this TSX inventory might be a wonderful shopping for alternative.
Constellation is buying and selling for 14 occasions free money circulate and a 7% free money circulate yield. The final time it was this low cost was 10 years in the past.
Actually, AI might be a risk. Nevertheless, it is also a possibility. Constellation operates over 1,000 enterprise items that cater to area of interest industries and sector makes use of. It’s closely embedded with prospects. Who’s to say it can’t use AI to additional enhance its software program platforms, additional entrench itself, and even increase into new verticals?
Secondly, the AI drop might present significant shopping for alternatives. Software program is now not in vogue. All of the personal fairness gamers which have closely invested within the sector could must unload these unfavourable holdings. With a robust stability sheet and an important working platform, Constellation might significantly speed up its acquisition program.
Whereas the market is barely specializing in the negatives, a contrarian can decide up one among Canada’s finest companies at a really enticing valuation.
A beaten-down diversified companies supplier
One other TSX inventory overwhelmed down by AI is Colliers Worldwide Group (TSX:CIGI). This TSX inventory is down 23% this 12 months. Colliers offers actual property companies, engineering/challenge administration, and funding administration.
These usually are not commoditized companies that an AI agent can replicate or change. These companies require relationships, experience, certifications, and expertise. At this time, over 70% of Collier’s earnings is recurring.
Over the previous 5 years, Colliers has been rising at a 15% compounded annual fee. A mixture of sensible acquisitions and stable natural progress has almost doubled its enterprise in that point. It’s focusing on double-digit progress in 2026 as nicely.
At 15 occasions earnings, Colliers is buying and selling at a really enticing price-to-growth fee. For a high-quality TSX inventory, Colliers seems to be like a discount proper now.
A high TSX defence inventory
If you need a TSX inventory that’s agnostic of AI, Calian Group (TSX:CGY) needs to be in your radar. This inventory is benefiting from the rising defence spending that is occurring in NATO and Canada.
Over 50% of Calian’s enterprise is concentrated on defence. It’s a main provider of healthcare, coaching, and satcom companies to the Canadian army. Canada has underinvested for years within the army. It’s lastly beginning to catch up after saying a dedication to hit NATO spending targets.
Calian has the experience and relationships to win greater than its fair proportion of presidency spending within the space. It’s focusing on double-digit progress in 2026. Current quarterly outcomes point out that it might hit its $100 million earnings earlier than curiosity, tax, depreciation, and amortization goal within the subsequent 12 months or two.
Although this TSX inventory is up 36% in 2026, its valuation continues to be not demanding, on condition that its progress story may simply be beginning once more.
