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
0
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, symbol X-T, is viewed favorably by several experts for its potential value, despite recent market downturns. Analysts appreciate its unique position in the financial industry as a comprehensive trading platform providing recurring revenue streams, especially from derivatives and data analytics, which contribute significantly to its growth. While some express concerns about the impact of AI and competition in the market, the overall risks appear to be overstated given TMX's role as a toll road in the capital markets and strong historical performance. The company's solid financials, including consistent dividend growth and a healthy balance sheet, suggest it is well-positioned for the future. With analysts offering price targets ranging from $61.00 to $63.07, there is a prevailing optimism regarding TMX's potential upside despite the short-term volatility.

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Consensus
Buy
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Valuation
Fair Value
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Similar
CME
DON'T BUY
They have 2 problems. All their big companies are being taken over and they make their money off of trading. Secondly, the big banks are talking about setting up a rival exchange.
DON'T BUY
Has dropped a fair bit since its high. Got hurt recently when there was talk about the banks pushing for their own equity market. Technology will allow them to do that. It won't trump the TSX, but will take business away and will hurt their margins. Great cash flow business.
DON'T BUY
Long-term trend line has been broken. When a group is getting tired, there is a tendency for a lot of new investment products to come out. If you own, lighten up.
BUY
A consortium of Canadian banks has announced that they are considering putting in a competing product in the next year or two. This would cut into their pricing. This will probably blow over and at this price, it’s not a bad entry point.
COMMENT
$50 is at risk of moving below 200 day moving average and the momentum on the MACD is out of the stock. Be cautious.
SELL
Announcement that the banks were considering setting up an alternative system gave them a scare. It would take away a lot of volume. Have held a monopoly position. Consider taking some profits on part of your holdings.
SELL
Stock missed earnings, when a stock misses earnings, it will tend to do it multiple times.
DON'T BUY
Last year they lowered their fees because they knew they would be getting competition from the banks. Pretty much fully valued now, so can't see where the growth will happen.
BUY ON WEAKNESS
Thinks there's a catalyst coming on this exchange. Feels they will get together with the Montreal exchange over the next couple of years. Buying on a bad day would probably be a good idea.
BUY
Likes the concept of an integration of world exchanges. As the world expands economically, this one cannot go it alone and will have to team up with one or more players. 3% yield.
TOP PICK
One of the best run exchanges in the world, while the P/E is about half. Recent drop of the stock based on news gives a good buying opportunity.
COMMENT
This will do well as long as the market does well. Expect at some point they will do a merger.
TOP PICK
As the world becomes a smaller space in terms of financial activity, more and more attention will be paid to this sector. Of the 10 major exchanges this is the cheapest, 2nd only to NASDAQ. As their earnings increase, he is looking for a 30 X earnings ratio, which would get you to about $70.
SELL
A lot of people have made a lot of money. Capital markets are very popular right now, but would take some money off the table.
DON'T BUY
Can't accept the value of the exchanges at this point. There is great cyclicality in this sector. Relative to financial services, the mid-20 multiple is pretty expensive.
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