TSE:X

TMX Group (X.TO)

45.50
+0.09 (0.20%)
as of Jun 26, 2026, 8:00:00 pm Market Open.
81 watching
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Investor Insights
star iconJun 26, 2026, 12:00 am

This summary was created by AI, based on 17 opinions in the last 12 months.

TMX Group, the operator of the Toronto Stock Exchange, has garnered a mixed but generally positive outlook from various experts. Most analysts recognize the company's strong positioning within the financial markets, particularly in options trading and analytics, despite recent pullbacks attributed to broader market fears, including concerns about AI disruption. The stock is characterized as a reliable performer with a history of dividend growth and resilience during market volatility. The industry landscape remains favorable, with expectations for continued double-digit growth driven by increased trading volumes and strong analytics offerings. While technical indicators show the stock trading below its 200-day moving average, many view this as a tactical buying opportunity rather than a long-term negative signal.

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Consensus
Buy
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Valuation
Fair Value
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Similar
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DON'T BUY
Trading on BCE and 36 other companies go down yesterday was horrible timing. Increases the appeal to trade on other platforms such as Alpha. Estimates are from 20% to 50% volumes could move to others, over time. Expensive at this point and doesn’t discount the risk of competition.
DON'T BUY
(Market Call Minute.) Risk to revenues
COMMENT
The TSX has had a fantastic rally. Up to all-time highs. Chart shows it is bouncing off the top again, which is a positive sign if it can break that level. However, there is a downward trend on the lows, which concerns him. Technically, you are waiting for the breakthrough.
DON'T BUY
Thinks volumes will be under pressure going forward. There are investors that have been shaken out of the market to some degree.
BUY
Stock price has dropped because of the malaise in the market. They get their fees from the number of companies that list, IPOs and when companies issue new equities as well as a cut on every trade that goes through. Quite attractive at this level.
HOLD
Will be very challenging environment for all exchanges in the next 3 to 6 months. Market volatility is great for traders, but not for exchanges. Coming merger looks very positive and is good news. On a longer-term basis, it's a good industry to be in. Would stay away for the next 6 months.
WEAK BUY
Couldn't understand why they were going after the Montreal exchange when the growth was not there. However, when you put the 2 components together, there are synergies. There are political issues in that Montreal wants to keep their distinct entity. Would look very hard at this at this price.
COMMENT
Midst of a takeover with Montreal exchange (MXX-T). Because of the political situation, difficult to tell if this will actually work. CEO just left. Some market pressure because they have cut fees in order to stay competitive. Very consistent business. Volatility helps their underlying business with the extra trading revenue. Over 3% yield.
TOP PICK
Merging with the Montreal exchange (MXX-T). The best way to participate in any economy is the stock exchange. If you believe that anything good will happen in the market, these shares should perform even better.
DON'T BUY
Thinks this is a space that will continue to consolidate, but it is highly market sensitive. Expect there will be fewer financings resulting in a loss of listing fees. Very well managed business, but if you are concerned about markets this is not the spot to be right now.
PAST TOP PICK
(A Top Pick Feb 7/07. No change.) Still likes and is glad they are merging with the Montreal exchange and you
PARTIAL SELL
The rumour is that they are going to merge with the Montreal exchange. He has a bit of a problem with the valuation of most of the exchanges right now. If you own, he would take some profit.
HOLD
When it went public, it had some anti takeover provisions in it so the likelihood of it being acquired is very low. Merger with the Montreal exchange is a high possibility. Has done while because it is a resource and financial services based index with resources dominating. Try to buy at $46-$47.
DON'T BUY
Caller was a senior, he advised no, because it's too volatile.
PAST TOP PICK
(A Top Pick Sept 21/06. Down 10.5%.) Feels there is a probability of discussion and conclusion of a merger with the Montreal Exchange (MXX-T). Not concerned with the banks moving into this area.
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