Scotiabank Increases TMX Group (TSE:X) Price Target to C$65.00

Key Points

• Scotiabank raised its price target for TMX Group to C$65.00 from C$63.00, suggesting a potential upside of 16.07% from the stock's previous close.
• Other analysts, including BMO Capital Markets and TD Securities, have also updated their price targets, with an average target now at C$58.06.
• TMX Group has a market capitalization of C$15.57 billion and recently traded at C$56.00, indicating a slight decline during trading hours.

TMX Group (TSE:X - Get Free Report) had its price objective hoisted by analysts at Scotiabank from C$63.00 to C$65.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Scotiabank's price target would indicate a potential upside of 13.14% from the stock's current price.

Other equities analysts also recently issued research reports about the company. CIBC increased their price target on TMX Group from C$55.00 to C$57.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. BMO Capital Markets lifted their target price on shares of TMX Group from C$57.00 to C$61.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Canaccord Genuity Group increased their target price on shares of TMX Group from C$52.00 to C$58.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. National Bankshares upped their price objective on shares of TMX Group from C$55.00 to C$58.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 29th. Finally, Barclays boosted their target price on TMX Group from C$56.00 to C$58.00 in a report on Thursday, July 10th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of C$59.69.

TMX Group Stock Up 2.9%

TSE X traded up C$1.62 on Friday, reaching C$57.45. 360,107 shares of the stock traded hands, compared to its average volume of 483,778. The company has a market cap of C$15.98 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 12.65 and a beta of 0.43. The company has a fifty day moving average price of C$56.12 and a 200-day moving average price of C$52.89. TMX Group has a 12 month low of C$39.70 and a 12 month high of C$57.77. The company has a debt-to-equity ratio of 47.49, a quick ratio of 0.01 and a current ratio of 1.01.

TMX Group Company Profile

TMX Group Ltd is a company that operates several global markets to provide investment opportunities for its clients. TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, and Trayport, which provides listing markets, trading markets, clearing facilities, depository services, technology solutions, data products, and other services to the global financial community.