Scotiabank Issues Positive Forecast for TMX Group (TSE:X) Stock Price

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 investment 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 target price points to a potential upside of 16.42% from the company's previous close.

Several other research analysts also recently weighed in on X. National Bankshares boosted their price target on TMX Group from C$55.00 to C$58.00 and gave the company a "sector perform" rating in a report on Tuesday, July 29th. TD Securities upped their target price on TMX Group from C$54.00 to C$57.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Canaccord Genuity Group lifted 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 note on Wednesday, May 7th. CIBC increased their price objective on TMX Group from C$55.00 to C$57.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Finally, BMO Capital Markets increased their target price on TMX Group from C$57.00 to C$61.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, TMX Group has an average rating of "Hold" and a consensus price target of C$59.56.

TMX Group Price Performance

TMX Group stock traded down C$0.51 during trading on Friday, reaching C$55.83. The company had a trading volume of 249,262 shares, compared to its average volume of 484,767. TMX Group has a 1-year low of C$39.70 and a 1-year 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. The firm's 50-day simple moving average is C$56.10 and its 200 day simple moving average is C$52.81. The firm has a market capitalization of C$15.53 billion, a PE ratio of 32.23, a price-to-earnings-growth ratio of 12.65 and a beta of 0.43.

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.