Scotiabank analyst Phil Hardie upgraded TMX Group (TMXXF) to Outperform from Sector Perform with a price target of C$70, up from C$65. The firm believes the durability of TMX’s earnings momentum is being underappreciated at current share levels. It expects the stock’s valuation to converge with peers as TMX continues to execute and benefits from its transformation. The company offers an “attractive combination” of resilience and growth and is emerging as a solid “quality compounder,” the analyst tells investors in a research note.
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Read More on TMXXF:
- TMX Group upgraded to Outperform from Sector Perform at Scotiabank
- TMX Group price target raised to C$58 from C$57 at TD Securities
- TMX Group price target raised to C$62 from C$61 at BMO Capital
- TMX Group price target raised to C$60 from C$58 at Barclays
- TMX Group Reports Strong Revenue Growth Amid Challenges