TMX Group (TSE:X) Upgraded by Scotiabank to Outperform Rating

Key Points

• TMX Group's stock rating was upgraded by Scotiabank from "sector perform" to "outperform," with a new target price of C$70.00, indicating a potential upside of 29.58% from its current price.
• Multiple analysts have increased their price objectives for TMX Group, with four ratings classified as Buy and three as Hold, resulting in an average target of C$60.44.
• As of Wednesday, TMX Group's shares traded at C$54.02 with a P/E ratio of 35.77 and a market capitalization of C$15.02 billion.

TMX Group (TSE:X - Get Free Report) was upgraded by Scotiabank from a "hold" rating to an "outperform" rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has a C$70.00 target price on the stock, up from their prior target price of C$65.00. Scotiabank's price objective indicates a potential upside of 31.11% from the company's current price.

A number of other analysts also recently weighed in on the company. Raymond James Financial increased their price objective on TMX Group from C$59.00 to C$62.50 and gave the company an "outperform" rating in a report on Friday, August 1st. National Bankshares boosted their price objective on TMX Group from C$58.00 to C$59.00 and gave the company a "sector perform" rating in a report on Monday, August 4th. TD Securities upped their price target on TMX Group from C$57.00 to C$58.00 and gave the stock a "hold" rating in a report on Tuesday, August 5th. BMO Capital Markets upped their price target 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. Finally, Barclays upped their price target 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 Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$60.44.

TMX Group Price Performance

Shares of TSE:X traded down C$0.22 during trading on Wednesday, hitting C$53.39. 3,480,419 shares of the company were exchanged, compared to its average volume of 507,212. The business's 50 day moving average is C$55.64 and its 200-day moving average is C$54.41. The company has a market capitalization of C$14.85 billion, a P/E ratio of 35.36, a price-to-earnings-growth ratio of 12.65 and a beta of 0.10. The company has a quick ratio of 0.01, a current ratio of 1.01 and a debt-to-equity ratio of 47.49. TMX Group has a 1-year low of C$42.00 and a 1-year high of C$57.98.

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.