Raymond James Financial Upgrades TMX Group (TSE:X) to Strong-Buy

TMX Group (TSE:X) was upgraded by Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a report released on Monday,BayStreet.CA reports. The firm currently has a C$61.00 price objective on the stock, up from their prior price objective of C$59.00. Raymond James Financial’s price objective points to a potential upside of 32.21% from the stock’s previous close.

X has been the topic of several other research reports. Scotiabank set a C$70.00 price objective on TMX Group and gave the stock a “sector perform” rating in a research report on Friday, October 24th. TD Securities raised shares of TMX Group from a “hold” rating to a “buy” rating and increased their target price for the company from C$58.00 to C$60.00 in a research report on Wednesday, October 29th. National Bankshares lifted their price target on shares of TMX Group from C$59.00 to C$60.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 28th. Finally, Royal Bank Of Canada upped their price objective on TMX Group from C$66.00 to C$67.00 in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, TMX Group currently has an average rating of “Moderate Buy” and an average price target of C$60.67.

TMX Group Stock Performance

Shares of X stock opened at C$46.14 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.01 and a debt-to-equity ratio of 47.49. The firm has a fifty day simple moving average of C$50.78 and a two-hundred day simple moving average of C$52.32. The firm has a market capitalization of C$12.84 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 12.65 and a beta of -0.20. TMX Group has a 12 month low of C$44.82 and a 12 month high of C$57.98.

TMX Group (TSE:X) last announced its earnings results on Thursday, February 5th. The company reported C$0.60 earnings per share (EPS) for the quarter. TMX Group had a return on equity of 3.37% and a net margin of 25.80%.The company had revenue of C$457.80 million for the quarter. Analysts forecast that TMX Group will post 1.7708421 EPS for the current fiscal year.

Key Headlines Impacting TMX Group

Here are the key news stories impacting TMX Group this week:

• Positive Sentiment: Raymond James upgraded TMX from “outperform” to “strong-buy” and raised its C$61 price target (previously C$59), signaling bullish analyst conviction that could support the share price. Raymond James upgrade to strong-buy
• Positive Sentiment: Abaxx Exchange will extend trading access through TMX Trayport’s Joule platform — a commercial win for TMX’s trading-technology franchise that may boost order flow and platform revenues over time. Abaxx Exchange to Extend Trading Access Through TMX Trayport’s Joule Platform
• Neutral Sentiment: TMX released its Equity Financing Statistics for January 2026 — investors will watch issuance and listing activity metrics because they correlate with listing and trading revenue, but the report itself is directional and not an immediate earnings revision. TMX Group Equity Financing Statistics – January 2026
• Neutral Sentiment: Canaccord Genuity and RBC trimmed their price targets (Canaccord C$64→C$61; RBC C$67→C$64) but kept constructive ratings (“buy”/”outperform”), a mixed signal that tempers upside expectations without flipping to negative coverage. Analyst price-target updates (Canaccord, RBC)
• Negative Sentiment: Barclays cut its price target from C$59 to C$52 and moved to “equal weight,” which is the most bearish analyst action among recent updates and likely weighs on near-term sentiment. Barclays lowers price target and rating

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.