Raymond James initiated coverage of TMX Group (TMXXF) with an Outperform rating and C$59 price target TMX is the pre-eminent stock exchange with listing and trading capabilities in Canada, as well as a derivatives exchange with clearing capabilities, fixed income and energy trading platforms, the analyst tells investors in a research note. The firm adds it is positive on TMX’s execution of a strategy that has diversified the operations, maintained a high operating margin, and generated over $1 billion of free cash flow over the past two years.
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