The Globe and Mail reports in its Thursday, May 1, edition that TD Cowen analyst Graham Ryding continues to rate TMX Group "hold." The Globe's David Leeder writes in the Eye On Equities column that Mr. Ryding raised his share target by $6 to $54. Analysts on average target the shares at $53.75. Mr. Ryding says in a note: "We have raised our Q1/25 outlook to reflect very strong trading volumes offset by weak financing stats. Derivatives volumes in particular are tracking at record levels. Our target price moves up due to rolling forward valuation and a higher multiple (strong revenue growth and recognition of defensive attributes). Valuation remains fair." The Globe reported on Nov. 1 that National Bank Financial analyst Jaeme Gloyn had reaffirmed his "sector perform" recommendation for TMX Group. The shares could then be had for $43.52. The Globe reported on Jan. 23 and Feb. 4 that Mr. Ryding had reaffirmed his "hold" call for TMX Group. The shares were then going for $45.76 and $49.02.