It has been a sneaky bull market for TSX stocks in 2024. The TSX Index is up 8.2% this year. Everyone has been expecting the worst for the economy and stock market as interest rates remain elevated.

So far, things have been decent. Certainly, the TSX has lagged the S&P 500 Index in 2024. Its total return is half that of the S&P 500 (which is up 17%). However, 8% is above the long-term TSX average return of 5 to 6% per year.

The TSX could be due for catch-up trading. Here are three Canadian stocks that could be set to soar in 2024.

This TSX stock benefits from a real estate turnaround

Colliers International Group (TSX:CIGI) has been in no-manâs zone lately. Colliers is a major commercial property broker around the world. Elevated interest rates have caused property transactions to significantly decline. That has impacted Colliers results.

However, many investors donât appreciate the fact that Colliers is a diversified real estate services provider. It has significant businesses in property management, consulting and engineering, and asset management.

Recurring revenue businesses make up almost 70% of its current earnings before interest, tax, depreciation, and amortization (EBITDA). It continues to make smart acquisitions that expand its share in these segments.

With interest rates starting to decline, real estate transaction activity is likely to start swinging upward again. If so, this TSX stock could see earnings rapidly accelerate upwards. Its stock will respond in kind.

This TSX financial stock could still have years of growth

goeasy (TSX:GSY) recently pulled back by 12% on news that its CEO will be vacating his position at the end of the year. Certainly, any management transition is something to be wary about.

I am less concerned given the company has a deep management team and the current CEO will remain on the board of directors.

goeasy remains an attractive opportunity today. With interest rates remaining elevated, many Canadian big banks have increased underwriting standards.

As a result, many near-prime consumers are being pushed down to non-prime lenders for small-to-medium sized loans. goeasy gets the benefit of a higher volume of better quality, lower risk consumer loans.

It just announced it plans to expand into credit cards. This could significantly expand its total addressable market. goeasy stock yields 2.5% and only trades for 12 times earnings. Given its growth rate has been almost twice its price-to-earnings ratio, it looks like an attractive deal now.

A small Canadian insurer that could take off

Another TSX stock set for an upswing in the second half of 2024 is Trisura Group (TSX:TSU). It is a specialty insurance provider in Canada and the U.S. The company has a very good record of strong shareholder returns. Its stock is up 458% in the past five years!

However, returns have recently stalled. Trisura had one insurance line in the U.S. that it wrote off in 2023. That impacted earnings and the stock fell. Fortunately, that is largely behind it and the company is re-positioned for growth in 2024.

Trisura has many avenues for expansion, whether it be growing its insurance fronting business or expanding its specialty lines into the United States. The insurer earns above-average returns on equity because of its low-cost, specialty line focus.

Compared to other specialized insurers, it trades at a huge discount. This stock could enjoy substantial upside if it can execute its strategy over the next few years.

The post Bull Market: 3 TSX Stocks Set to Soar in 2024 appeared first on The Motley Fool Canada.