The Globe and Mail reports in its Friday, Oct. 24, edition that ahead of earnings season in the sector, Scotia Capital analyst Phil Hardie reaffirmed TMX Group as his top pick for the year ahead, emphasizing his "bias toward resilient growth." The Globe's David Leeder writes in the Eye On Equities column that Mr. Hardie continues to rank TMX Group "sector outperform," with a Street-high share target of $70. Analysts on average target the shares at $61.94. Mr. Hardie says in a note: "We think investors are underestimating the resilience of the company's earnings momentum and the stock offers an attractive combination of resilience and growth and is emerging as a solid 'quality compounder.' A key differentiator among Canadian financial services peers is its proven ability to generate outperformance during periods of heightened market stress. We believe TMX Group is a core holding for navigating market volatility and through market cycles. With expected one-year upside of almost 45 per cent, TMX is our top pick heading into 2026."