TD Securities Reaffirms Their Buy Rating on TMX Group Limited (X)

By Jason Carr

Shares of TMX Group Limited (XResearch Report) were revisited by a Wall Street analyst on November 9. TD Securities’ analyst Graham Ryding reiterates their Buy rating on the shares, with a C$96 price target.

According to TipRanks.com, Ryding is a 4-star analyst with an average return of 9.6% and a 66.2% success rate. Ryding covers the Financial sector, focusing on stocks such as Canaccord Genuity, IGM Financial, and Sprott Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for TMX Group Limited with a C$97.33 average price target, which is a 22.4% upside from current levels. In a report issued on October 29, Scotiabank also upgraded the stock to Buy with a C$101 price target.

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Based on TMX Group Limited’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$95.6 million. In comparison, last year the company had a net profit of C$51.9 million.

TMX Group Ltd. operates cash and derivative markets for multiple asset classes including equities, fixed income and energy. The company provides clearing facilities, data products and other services to the international financial community.

The company’s shares closed on Friday at C$79.53.