BMO Capital Markets Forecasts Strong Price Appreciation for TMX Group (TSE:X) Stock

TMX Group (TSE:X - Get Free Report) had its price target upped by analysts at BMO Capital Markets from C$57.00 to C$61.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. BMO Capital Markets' price objective would indicate a potential upside of 8.00% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. CIBC raised their price objective on TMX Group from C$55.00 to C$57.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. TD Securities raised their price objective on TMX Group from C$54.00 to C$57.00 and gave the company a "hold" rating in a research note on Wednesday. Scotiabank raised their price objective on TMX Group from C$56.00 to C$58.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. Raymond James Financial upgraded TMX Group to a "moderate buy" rating in a report on Wednesday, May 28th. Finally, Canaccord Genuity Group raised their target price on TMX Group from C$52.00 to C$58.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of C$56.25.

TMX Group Trading Up 1.3%

TSE X traded up C$0.71 during trading hours on Wednesday, hitting C$56.48. 332,614 shares of the company's stock were exchanged, compared to its average volume of 496,587. The stock has a 50-day simple moving average of C$55.79 and a 200 day simple moving average of C$51.73. TMX Group has a 1-year low of C$39.70 and a 1-year high of C$57.77. The firm has a market cap of C$15.71 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 12.65 and a beta of 0.43. The company has a current ratio of 1.01, a quick ratio of 0.01 and a debt-to-equity ratio of 47.49.

About TMX Group

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.