Finding the right investments for your portfolio takes time. It also means identifying the right stocks to buy when the opportune moment arises.

Fortunately, the market is full of potential, including these three stocks to buy right now.

Pick #1 – TD Bank

Toronto-Dominion Bank (TSX:TD) is the second-largest of Canadaâs big banks. The bank boasts a massive branch network that blankets Canada, as well as a growing presence in the U.S.

In the U.S., TD has a presence along the East Coast, established over the past two decades, that stretches from Maine to Florida.

But despite that impressive growth story, TD is one of the discounted stocks to buy now. As of the time of writing, the bank trades down nearly 10% year-to-date.

Part of the reason for that discount can be traced back to ongoing investigations by U.S. regulators. Specifically, there are concerns about TDâs ability to report on suspicious transactions made.

Depending on the outcome of that investigation, TD may be found liable to pay considerable fees. In fact, some pundits see those fees measuring into the billions, hence the drop in share price. TD has already set aside a whopping $450 million to cover those fees.

Despite that painful provision, there is an opportunity for long-term investors. Keep in mind that TD has weathered financial crises before in its nearly 200-year history.

And throughout that entire period, TD has continued to pay out a handsome dividend without fail. Today the yield on that quarterly dividend works out to an impressive 5.3%.

This means that investors can buy TD at a discount and collect a juicy dividend while waiting for that recovery. This makes TD one of the clear stocks to buy right now.

Option 2 – Canadian Tire

Canadian Tire Corporation (TSX:CTC.A) is one of the best-known retailers in Canada. Apart from its namesake stores, Canadian Tire also boasts a growing number of brands that include clothing, sportswear, and party supplies.

Canadian Tire also happens to be one of the discounted stocks to buy this month. As of the time of writing, the stock trades down a whopping 24% over the trailing 12-month period.

Part of the reason for that drop is rampant inflation and interest rates, which have dominated the lives of consumers and retailers for the past year. But like TD, thereâs an opportunity to be realized from the current environment.

Rates are starting to come down. And within a few weeks, weâll be entering the back-to-school and holiday shopping season.

In other words, the retail sector is about to get a jolt, which will drive the stock higher over the longer term. Until that happens, prospective investors can enjoy the juicy 5% yield the retailer offers investors.

Option 3 – Restaurant Brands International

Restaurant Brands International (TSX:QSR) is the name behind several of the largest fast-food brands on the market. That includes Burger King, Tim Hortons, Popeyeâs Chicken, and Firehouse Subs. Restaurant Brands already boasts nearly 30,000 locations across its brands in over 100 countries.

Rampant inflation has kept RBIâs stock price from breaking new levels. As of the time of writing, the stock trades at just under $100. Thatâs mid-way between its 52-week low of under $85 and high of just over $112.

More importantly, the current stock price represents a nearly 4% discount year-to-date and a 3% dip over the trailing 12 months.

That discount should be seen as an opportunity for investors to see RBI as one of the stocks to buy right now. Even better, prospective investors can take advantage of RBIâs tasty quarterly dividend, which provides a yield of 3.2%.

Turning to growth, RBI shines. The company is investing heavily in growth and is targeting China as a primary market to drive that growth. Earlier this month, the company announced a pair of deals worth $45 million to drive growth in the market.

Picking the right stocks to buy

No stock is without risk, but the three stocks mentioned above offer some defensive appeal, a tasty dividend, and growth potential.

In my opinion, one or all of these stocks to buy would be good additions to any well-diversified portfolio.

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