06:50:52 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Thomson Reuters Corp
Symbol TRI
Shares Issued 702,476,873
Close 2018-08-29 C$ 58.06
Market Cap C$ 40,785,807,246
Recent Sedar Documents

Globe says Thomson Reuters maintained at "outperform"

2018-08-30 07:46 ET - In the News

The Globe and Mail reports in its Thursday, Aug. 30, edition that RBC Dominion Securities analyst Drew McReynolds continues to "see a steady leg up" in Thomson Reuters ($45.01) stock following Tuesday's announcement of a $9-billion share buyback (all figures U.S.). The Globe's David Leeder writes in the Eye On Equities column that the company also announced it plans to complete the $17-billion sale of a majority interest in its financial and risk unit to Blackstone Group LP on Oct. 1. The tender offer, which will expire on Oct. 2, has been priced at $42 to $47 per share, or an 11.5-per-cent premium to the stock's average price over the past 20 trading days, according to the company. Mr. McReynolds raised his net asset value assumption for the company to incorporate a new pricing assumption for the SIB of $44.50, which is the midpoint of the $42 to $47 range and up from his previous estimate of $43, as well as transaction-related expenses related to the Blackstone deal (now $1-billion versus $2-billion previously). That led him to raise his share target price for the company's to $47 from $45. Analysts on average target the shares at $44.77. Mr. McReynolds continues to rate the shares "outperform."

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