Update shared on18 Sep 2025
Fair value Increased 1.17%Analysts have raised TMX Group’s price target to CA$61.79, citing durable earnings momentum, anticipated valuation multiple expansion, and a strong combination of resilience and growth, supported by robust trading activity and a favorable rate environment.
Analyst Commentary
- Bullish analysts believe TMX's earnings momentum is durable and underappreciated at current share levels.
- Anticipation that TMX's valuation multiple will converge with its peers as the company continues to execute transformation initiatives.
- The company is viewed as offering a compelling mix of resilience and growth, establishing itself as a solid quality compounder.
- Recent trading activity has been robust, supporting improved sentiment and upward price target revisions.
- Supportive Federal funds rate environment is expected to benefit TMX's net interest income for the remainder of the year.
What's in the News
- TMX Group announced a quarterly dividend of CAD 0.2200 per share.
- The company is seeking acquisitions to accelerate its global strategy, supported by a strong balance sheet and free cash flow.
Valuation Changes
Summary of Valuation Changes for TMX Group
- The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from CA$61.07 to CA$61.79.
- The Consensus Revenue Growth forecasts for TMX Group has risen slightly from 7.3% per annum to 7.6% per annum.
- The Future P/E for TMX Group remained effectively unchanged, moving only marginally from 30.45x to 30.89x.
Disclaimer
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