TSE:X

TMX Group (X.TO)

57.43
-0.11 (0.19%)
as of Oct 23, 2026, 8:00:00 pm Market Closed.
88 watching
0
HOLD

Still a play on the expansion of trade in Canada. This is the only play in the sector. Discounted to global peer group.

DON'T BUY

Is highly levered to the ups and downs of the markets. He is looking for a correction of 8-10% soon. You don`t need to sell it but there is a correction risk in the stock.

BUY ON WEAKNESS

Extremely well run company. Biggest headwinds they may face are 1) declining new issuance in the mining and oil/gas sectors and 2) trading volumes softening up. Feels this has run its course for the short term for the next year or 2. If there was a pull back, he would be looking to buy this.

DON'T BUY

You have to ask yourself where the business is going over the next 5 years. The business is not growing. New listings are shrinking and volume is being usurped but some of the alternative exchanges.

SELL

He would be more included to be a seller, model $43.09. Convoluted deal. He doesn’t expect anything major to happen to the balance sheet after the acquisition. Surprised the deal went through.

COMMENT
Being acquired by the Maple Group and if you own, tender to the offer. There won’t be another offer. There is a 2% difference between the offer and the current price.
COMMENT
Classic head and shoulders? Yes that is correct. The key is how far down it can go on a target basis. It has already achieved its downside technical target.
COMMENT
Maple has extended their offer again. There is still some political risks here. Sold his holdings and bought more banks.
DON'T BUY
On the back burner. It’s in the FED’s hands. $50 a share is questionable because you don’t know what you are paying for. Owns it in one fund. He is just waiting. Pretty good yield 3.66%. If the deal fails it is worth holding.
HOLD
The market doesn’t believe the $50 bid will be allowed. She says to the $50 if it is approved. It is a good hold otherwise.
TOP PICK
The uncertainty with Maple goes on, extended for another month. He hopes it happens but if it doesn't, is perfectly happy with the admirable management. If this doesn't go through, they could be looking at Australia as well.
BUY
Theoretically the Maple bid is coming through at the end of January giving $33 a share in cash, which they say is worth $55 and the stock is trading under $45. Looks okay.
SELL
Tender shares and see what happens.
COMMENT
Interesting in that the London exchange pulled out when they didn’t get enough votes. Stock is trading at a big discount to the Maple bid of around $50 indicating some doubt that the bid will go through.
DON'T BUY
Has probably outperform the market in the last month or two but a lot of it is pretty much priced in right now. Doesn't see the value in this one right now.
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