TMX Group (TSE:X) Raised to "Outperform" at Scotiabank

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 analysts at Scotiabank from a "hold" rating to an "outperform" rating in a research report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a C$70.00 price target on the stock, up from their previous price target of C$65.00. Scotiabank's price target points to a potential upside of 31.11% from the company's previous close.

Several other equities research analysts have also recently weighed in on the stock. BMO Capital Markets raised their price objective on shares of TMX Group from C$57.00 to C$61.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. National Bankshares lifted their price objective on shares of TMX Group from C$58.00 to C$59.00 and gave the company a "sector perform" rating in a research note on Monday, August 4th. TD Securities upped their price objective on shares of TMX Group from C$57.00 to C$58.00 and gave the stock a "hold" rating in a research report on Tuesday, August 5th. Barclays raised their price objective on TMX Group from C$56.00 to C$58.00 in a research report on Thursday, July 10th. Finally, Raymond James Financial boosted their price target on TMX Group from C$59.00 to C$62.50 and gave the stock an "outperform" rating in a report on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of C$60.44.

TMX Group Price Performance

Shares of TSE:X traded down C$0.22 during trading on Wednesday, reaching C$53.39. The company had a trading volume of 3,480,419 shares, compared to its average volume of 507,212. 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 has a market capitalization of C$14.85 billion, a PE ratio of 35.36, a price-to-earnings-growth ratio of 12.65 and a beta of 0.10. TMX Group has a twelve month low of C$42.00 and a twelve month high of C$57.98. The firm's fifty day moving average is C$55.64 and its 200 day moving average is C$54.41.

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.