The Globe and Mail reports in its Thursday, April 23, edition that RBC Dominion Securities analyst Bart Dziarski continues to rank TMX Group "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Dziarski boosted his share target by a loonie to $65. Analysts on average target the shares at $61.60. Mr. Dziarski thinks TMX's acquisition of the Canadian and Australian assets of Cboe Global Markets "represents an accretive deployment of capital at a reasonable valuation, in-line with the company's longer-term objective of increasing its recurring revenue mix." Mr. Dziarski says in a note: "Planting a flag in Australia provides longer-term growth opportunities and creates a global leader in mining and energy transition financing ecosystems. This positions TMX as the No. 3 global exchange operator and supports its growing international revenue base (approximately 51 per cent ex-Canada in 2025). Australia represents a natural adjacency given overlap in mining and capital markets, with management highlighting existing issuer relationships as a foundation for growth. We note TMX pro-forma market share in Canada is expected to increase from approximately 50 per cent to 60 per cent plus."