2026 has already proved to be an attention-grabbing yr for TSX shares. Synthetic intelligence (AI) issues have pushed software program shares down even additional than they had been pushed in 2025. Likewise, promoting has moved to different sectors, equivalent to skilled providers.
Frankly, I feel this commerce has been overhyped in some ways. For contrarian traders, it presents enticing shopping for alternatives. Beneath are three prime TSX shares to purchase proper now. Two of those shares are crushed down as a result of AI issues, and one ought to prosper no matter what AI does.
Supply: Getty Photographs
A beaten-up TSX software program inventory
Constellation Software program (TSX:CSU) is down 51% prior to now yr. For present shareholders, it has been a fairly powerful time. Nevertheless, for brand spanking new shareholders, this TSX inventory could possibly be a superb shopping for alternative.
Constellation is buying and selling for 14 occasions free money movement and a 7% free money movement yield. The final time it was this low cost was 10 years in the past.
Actually, AI could possibly be a menace. Nevertheless, it may be a chance. Constellation operates over 1,000 enterprise models 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 may present significant shopping for alternatives. Software program is not in vogue. All of the non-public fairness gamers which have closely invested within the sector could must unload these unfavourable holdings. With a powerful stability sheet and an ideal working platform, Constellation may significantly speed up its acquisition program.
Whereas the market is simply specializing in the negatives, a contrarian can choose up one in all Canada’s greatest companies at a really enticing valuation.
A beaten-down diversified providers supplier
One other TSX inventory crushed down by AI is Colliers Worldwide Group (TSX: CIGI). This TSX inventory is down 23% this yr. Colliers gives actual property providers, engineering/challenge administration, and funding administration.
These should not commoditized companies that an AI agent can replicate or substitute. These providers require relationships, experience, certifications, and expertise. At the moment, over 70% of Collier’s revenue is recurring.
Over the previous 5 years, Colliers has been rising at a 15% compounded annual charge. A mixture of good acquisitions and strong natural progress has almost doubled its enterprise in that point. It’s focusing on double-digit progress in 2026 as properly.
At 15 occasions earnings, Colliers is buying and selling at a really enticing price-to-growth charge. For a high-quality TSX inventory, Colliers seems like a cut price proper now.
A prime TSX defence inventory
If you’d like a TSX inventory that’s agnostic of AI, Calian Group (TSX:CGY) must be in your radar. This inventory is benefiting from the rising defence spending that is happening in NATO and Canada.
Over 50% of Calian’s enterprise is targeted on defence. It’s a main provider of healthcare, coaching, and satcom providers to the Canadian navy. Canada has underinvested for years within the navy. 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. Latest quarterly outcomes point out that it may hit its $100 million earnings earlier than curiosity, tax, depreciation, and amortization goal within the subsequent yr or two.
Although this TSX inventory is up 36% in 2026, its valuation remains to be not demanding, provided that its progress story would possibly simply be beginning once more.