Raymond James analyst Stephen Boland has maintained their bullish stance on TMXXF stock, giving a Buy rating on November 9.
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Stephen Boland has given his Buy rating due to a combination of factors reflecting TMX Group’s robust performance in October 2025. The company experienced significant growth in its capital formation segment, with financing raised reaching $5,907 million, marking a substantial increase from previous months and years. The number of financings also saw a notable rise, indicating strong investor interest and market activity.
Additionally, the IPO market showed remarkable progress, with IPO financings surging to $978 million and the number of IPOs increasing significantly. Equity markets were strong, with trading volume and market value at three-year highs, demonstrating heightened trading activity and investor confidence. Despite a slight downturn in the derivatives market, the overall positive trends in capital formation and equity markets underpin Boland’s optimistic outlook and Buy rating for TMX Group.
In another report released on November 9, BMO Capital also maintained a Buy rating on the stock with a C$62.00 price target.