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TMX Group (X.TO)

TSE:X

TMX Group (X.TO)

44.95
-0.46 (1.01%)
as of Jun 26, 2026, 3:22:08 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, 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.

consensus icon
Consensus
Buy
valuation icon
Valuation
Fair Value
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Similar
CME
BUY

TMX Group(X.TO)

Apr 20, 2022

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Growth is expected to slow down to 5-7% in the next three years. Margins could see some pressure from higher operating costs and higher amortisation. It benefits regardless of sentiment change or interest rates hikes. Still attractive overall at 17x earnings. Unlock Premium - Try 5i Free

Photo of Stockchase InsightsStockchase Insights
Unknown
Unlock Rating
$129.21

Stock price when the opinion was issued

$45.21

As of Jun 26, 2026. Market Open.

other services
DON'T BUY

TMX Group(X.TO)

Apr 13, 2022
Depends on new listings and revenues through data feeds. Entirely reliant on its technology. Valuation is 18x earnings, but outlook for growth is flat over next couple of years. Competitive pressures from the US. He's wary. Stay away.
Photo of Chris BlumasChris Blumas
No
Unlock Rating
$128.88

Stock price when the opinion was issued

$45.21

As of Jun 26, 2026. Market Open.

other services
PAST TOP PICK

TMX Group(X.TO)

Mar 03, 2022
(A Top Pick Apr 01/21, Up 0.4%) Terrific 2021. Underlevered, stable. Can buy back stock or make acquisitions. Good long-term winner. Good alternative to the banks. True, when markets drop, their fees drop. Strong commodities, utilities, and oil in Canada could help deliver surprises.
Photo of Barry SchwartzBarry Schwartz
Owned
Unlock Rating
$130.75

Stock price when the opinion was issued

$45.21

As of Jun 26, 2026. Market Open.

other services
BUY

TMX Group(X.TO)

Nov 02, 2021
The exchanges have done very well in recent years. Good free cash flow. Indexing (ETFs) are a tailwind. New stock exchange highs signal good business. These stocks do very well over time.
Photo of Paul Harris, CFAPaul Harris, CFAUnlock Rating
$135.18

Stock price when the opinion was issued

$45.21

As of Jun 26, 2026. Market Open.

other services
WATCH

TMX Group(X.TO)

Oct 26, 2021
It'll remain sideways near-term, but in the past 10 years it's performed huge. It enjoys nearly a monopoly in Canada and have done well diversifying like selling data to the financial industry and into derivatives. The outlook is good. Probably is the stock isn't cheap. Watch for a pullback.
Photo of Colin StewartColin Stewart
No
Unlock Rating
$134.20

Stock price when the opinion was issued

$45.21

As of Jun 26, 2026. Market Open.

other services
TOP PICK

TMX Group(X.TO)

Apr 01, 2021
Defensive, financial business. Will benefit from rising stock prices. Exchange listing, but also a data analytics business. Way undervalued for the quality. Wants to see management unlock its value. $175+ stock going forward. Clean balance sheet. Tailwinds as markets stay strong. Yield is 2.14%. (Analysts’ price target is $146.00)
Photo of Barry SchwartzBarry Schwartz
Owned
Unlock Rating
$133.83

Stock price when the opinion was issued

$45.21

As of Jun 26, 2026. Market Open.

other services
BUY ON WEAKNESS

TMX Group(X.TO)

Mar 09, 2021
They enjoyed an outstanding finish to end 2020. Trading volumes were very high, though derivatives were busier in the States. TMX is expensive now, trading at 21x expected earnings this year, which is a little rich. If it were 16x PE or 15% less expensive, he'd be interested. Has some good growth prospects.
Photo of Michael SprungMichael Sprung
No
Unlock Rating
$126.74

Stock price when the opinion was issued

$45.21

As of Jun 26, 2026. Market Open.

other services
BUY

TMX Group(X.TO)

Dec 14, 2020

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Has a more or less monopoly position within the industry in Canada. Offers a good combination of capital appreciation and dividend growth. Unlock Premium - Try 5i Free

Photo of Stockchase InsightsStockchase Insights
Unknown
Unlock Rating
$125.98

Stock price when the opinion was issued

$45.21

As of Jun 26, 2026. Market Open.

other services
BUY

TMX Group(X.TO)

Oct 26, 2020

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. The company is large and has a quasi-monopolistic industry position. It has shown some dividend growth and yields 2.08%. Unlock Premium - Try 5i Free

Photo of Stockchase InsightsStockchase Insights
Unknown
Unlock Rating
$134.31

Stock price when the opinion was issued

$45.21

As of Jun 26, 2026. Market Open.

other services
BUY

TMX Group(X.TO)

Oct 02, 2020
A company that has done well over 2020. It is not a cyclical business since all businesses listed on the TSX has to pay fees. TMX database access fees and software fees are still getting paid. They raised their dividends this year. The new CEO is looking for more international listings and to leverage more. A great company.
Photo of Barry SchwartzBarry Schwartz
Owned
Unlock Rating
$137.97

Stock price when the opinion was issued

$45.21

As of Jun 26, 2026. Market Open.

other services
BUY

TMX Group(X.TO)

Sep 25, 2020

Billy Kawasaki’s Insights - Picks from 5i Research. The company recently acquired a transfer agent and corporate trust company which was a natural fit for an exchange. Services can be cross-sold across their client base and there is added revenues of $46.5M. Unlock Premium - Try 5i Free

Photo of Stockchase InsightsStockchase Insights
Unknown
Unlock Rating
$135.29

Stock price when the opinion was issued

$45.21

As of Jun 26, 2026. Market Open.

other services
PAST TOP PICK

TMX Group(X.TO)

Jul 31, 2020
(A Top Pick Jun 24/19, Up 54%) It is one of the best performing financial companies on the TSX. A one-stop-shop for listing, derivatives, options trading and data analytics. They made a smart acquisition of a data company in Europe. It is under leveraged and he thinks the company should be more aggressive with buybacks.
Photo of Barry SchwartzBarry Schwartz
Owned
Unlock Rating
$138.22

Stock price when the opinion was issued

$45.21

As of Jun 26, 2026. Market Open.

other services
PAST TOP PICK

TMX Group(X.TO)

Jun 15, 2020
(A Top Pick Jun 24/19, Up 42%) It has built on its platform. It has benefited from this volatility. If the market recovers, companies will be taking the opportunity for secondary offerings. They can make acquisitions going forward. It is an attractive opportunity.
Photo of Barry SchwartzBarry Schwartz
Owned
Unlock Rating
$128.93

Stock price when the opinion was issued

$45.21

As of Jun 26, 2026. Market Open.

other services
BUY

TMX Group(X.TO)

Feb 14, 2020
They have a temporary CEO. The company is in the middle of transforming its business to add data and information technology. The stock has done well and it was one of the best performers in 2019. The balance sheet is good. He expects better things in 2020.
Photo of Barry SchwartzBarry Schwartz
Owned
Unlock Rating
$117.98

Stock price when the opinion was issued

$45.21

As of Jun 26, 2026. Market Open.

other services
TOP PICK

TMX Group(X.TO)

Jan 14, 2020
A controversial pick, because the CEO just got ousted, but he did a good job diversify and growing TMX into a global company focused on analytics. Record TSX levels should lead to more listings. Also, a new CEO may be another tailwind. (Analysts’ price target is $126.00)
Photo of Barry SchwartzBarry Schwartz
Owned
Unlock Rating
$114.62

Stock price when the opinion was issued

$45.21

As of Jun 26, 2026. Market Open.

other services
Showing 46 to 60 of 363 entries

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