S&P 500 rises as health care, tech gain to overshadow Fed independence concerns
Investing.com - BMO Capital raised its price target on TMX Group (TSX:X) (OTC:TMXXF) to C$62.00 from C$61.00 while maintaining an Outperform rating.
The price target increase follows TMX Group’s second-quarter results, which demonstrated continued execution in raising the firm’s organic top-line growth prospects, according to BMO Capital.
The Canadian exchange operator posted double-digit organic growth for the fourth consecutive quarter, with strength across its "high-growth" businesses.
BMO Capital noted that TMX Group remains its top pick, with rising organic revenue growth supporting premium valuations.
The firm’s new C$62 target price reflects a 27x adjusted earnings target multiple, which BMO positions halfway between exchange peers with a more recurring revenue mix (25x) and financial data & services firms (30x).
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.