Monday’s analyst upgrades and downgrades
“Our estimates imply low double-digit EPS growth rates through 2027 as we anticipate continued solid growth from Derivatives, Trayport, VettaFi, Corporate Solutions and upside in trading volumes near term given volatility. This follows on EPS growth of 25 per cent in 2025 and 16 per cent in 2024. Despite the strong track record and outlook, TMX is down 4 per cent year-to-date vs. the S&P TSX Index up 11 per cent and Financials Index up 21 per cent.”In a client report released alongside a previewing second-quarter earnings season for his Canadian Financial Services coverage, Mr.
- ▪“Our estimates imply low double-digit EPS growth rates through 2027 as we anticipate continued solid growth from Derivatives, Trayport, VettaFi, Corporate Solutions and upside in trading volumes near term given volatility.
- ▪This follows on EPS growth of 25 per cent in 2025 and 16 per cent in 2024.
- ▪Despite the strong track record and outlook, TMX is down 4 per cent year-to-date vs. the S&P TSX Index up 11 per cent and Financials Index up 21 per cent.”In a client report released alongside a previewing second-quarter earnings season for
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountInside the Market’s roundup of some of today’s key analyst actionsNational Bank Financial analyst Jaeme Gloyn thinks TMX Group Ltd.’s (X-T) operating results now “outweigh industry risks,” leading him to upgrade his rating for its shares to “outperform” from “sector perform” previously.“We maintain a favourable view of TMX’s long-term growth outlook, strong track record of strategic execution (including recent acquisitions of CBOE and RAFI) and defensive attributes (e.g., over 50-per-cent recurring revenue, diversified/counter-cyclical revenue drivers, strong balance sheet and solid FCF generation),” he explained.
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