The Globe and Mail reports in its Tuesday, March 26, edition that BMO Capital analyst Etienne Ricard has elevated his recommendation for TMX Group to "outperform" from "market perform." The Globe's David Leeder writes that Mr. Ricard sees the growth potential for TMX Group "shifting higher underpinned by contributions from VettaFi and consistent execution on self-help initiatives." Mr. Ricard's share target soared by $5 to $41. Analysts on average target the shares at $36.25. Mr. Ricard says in a note: "The list is exhaustive: an expanded Montreal Exchange offering, asset class and geographic expansion at Trayport, enhanced MoC/dark trading, BOX market share gains, AST Trust synergies and Datalinx's revenue monetization. Progress against transformational objectives at a turning point with 55-per-cent-plus recurring revenues (2023: 53 per cent; objective: 66 per cent plus) and 45-per-cent-plus revenues outside Canada (2023: 41 per cent; objective: 50 per cent plus). Enhanced diversification is supportive of financial performance resiliency and valuation multiples." The Globe reported on April 12 and Jan. 12 that Mr. Ricard had reaffirmed his "market perform" call for TMX Group. It was then worth $27.69 and $31.81.