A new development at TMX Group (TMX Group Stock Quote, Chart, News, Analysts, Financials TSX:X) has Scotia raising its price target on the stock.
As reported by the Globe and Mail, Scotia analyst Phil Hardie December 15 raised his price target on X from $33.00 to $35.00, while maintaining his “Sector Perform” rating on the stock.
The move is in response to the December 14 news that TMX would acquire the rest of New York-based capital markets data firm VettaFi Holdings LLC. The additional 78 per cent stake -which X will pay (US) $848-million for- gives the Canadian exchange 100 per cent ownership.
“The acquisition of VettaFi will add a dynamic new component to our growing information business, with an exciting set of capabilities and a visionary, innovative team committed to client success,” said TMX CEO John McKenzie. “The experience of working together this year has confirmed that TMX and VettaFi are a…
