Scotiabank upgrades TMX Group citing strong growth potential

TMX

17/09/2025 12:17

** Scotiabank upgrades Canadian stock exchange operator TMX Group X.TO to "sector outperform" from "sector perform"

** Says investors are underestimating the durability of TMX’s earnings momentum and growth potential

**  Brokerage also raises PT to C$70 from C$65, representing a 29.95% upside to the stock's last close

** We think TMX poses several attractive investment characteristics that include resilience through diverse revenue sources, solid growth prospects, strong cash flow and a high operating leverage - Scotiabank

** Four of seven analysts covering TMX rate the stock "buy" or higher and three "hold"; their median PT is C$61- data compiled by LSEG

** As of last close, shares up 19.65% YTD

 (Reporting by Anuj T in Bengaluru)