With the broader TSX Index slipping by 2.5% and the S&P 500 nearing a 5% drop, representing a quarter and half of a full correction, respectively, many investors may be looking for some opportunities to seize on recent market weakness. Undoubtedly, valuations on Canadian stocks, on average, seem a tad more attractive, even if the dip hasn’t been nearly as fierce as the one suffered by the major U.S. market indices. In any case, this piece will tune into two impressive TSX stocks that I’d be tempted to pounce on this April, whether or not we’re at the start of a more severe pullback to lower levels.

At the time of writing, gas station and convenience store play Parkland Fuel (TSX:PKI) and fast-food dynamo Restaurant Brands International (TSX:QSR) look incredibly cheap after their respective multi-week spills! Is either name a good fit for one’s Tax-Free Savings Account (TFSA) on weakness? Let’s look into the names.

Parkland Fuel

Parkland Fuel is a well-run convenience retailer that doesn’t get all that much exposure from the mainstream media. Undoubtedly, it’s a pretty boring play in a rather old-fashioned industry. That said, I do believe it’s hard to ignore the solid fundamentals and the modest valuation to be had at current levels. After suffering a 14% correction (shares are now down just shy of 10% from their 52-week highs), the stock trades at 16.4 times trailing price to earnings (P/E), not at all bad for an underrated earnings grower that I believe is a prime takeover target.

The firm has been putting some of its convenience store and gas station locations up for sale in recent weeks. And as macro headwinds look to weigh again, the firm may very well look to position itself to be acquired, perhaps by a local convenience store retail giant that I won’t name in this piece. Undoubtedly, Parkland sports a rather modest $7.6 billion market cap.

Should a takeover happen, I’d pin the value at around $8.5-$9 billion. That’s a hefty price tag, but if a firm can extract considerable synergies, I’d not rule out a potential takeover at some point over the next three to four years.

Though I wouldn’t buy shares of PKI over takeover speculation, I think you’re getting a solid, well-run business that may just have a surprise upward spike at some point down the road should a deal be struck. In any case, I think the recent dip is a great buying opportunity for deep value seekers and those who want to rake in that impressive 3.25% dividend yield.

Restaurant Brands International

Restaurant Brands International stock is a bluer blue chip that income investors may wish to consider nibbling on the dip. The Burger King, Tim Hortons, and Popeyes Louisiana Kitchen owner is now down around 12% from its high.

With a 3.22% dividend yield and plenty of global expansion opportunities to seize, I’d not sleep on the name as it skids lower. Early signs suggest things are changing for the better over at Burger King and Tim Hortons. And as the firm brings new locations to uncharted localities, I’d expect the growth may just surprise to the upside. With a 0.93 beta, shares are likely to be about as volatile as the TSX Index.