After one of the worst quarters for Canadian stocks since 2011, market watchers say it may be time to start buying Canada again.
Brian Belski, chief investment strategist at BMO Capital Markets, said the S&P/TSX composite index, excluding energy stocks, is now trading at a price-to-earnings ratio below its long-run average after its third-quarter decline put the index down nearly 10 per cent for the year.
At the same time, Canada should increasingly benefit from a strong U.S. economy in the next year, bolstering the earnings of TSX-listed companies.