The Globe and Mail reports in its Tuesday, July 28, edition that National Bank Financial analyst Jaeme Gloyn has boosted his recommendation for TMX Group to "outperform" from "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Gloyn jacked his share target up by $2 to $65. Analysts on average target the shares at $68.86. Mr. Gloyn says in a note: "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). 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."