The Globe and Mail reports in its Friday, Aug. 4, edition that RBC Dominion Securities analyst Drew McReynolds has lowered his recommendation for Thomson Reuters to "sector perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. McReynolds gave his share target a $4 (U.S.) boost to $139 (U.S.). Analysts on average target the shares at $137.48 (U.S.). Mr. McReynolds issued his rating downgrade in response to the company's share price appreciation of 19.9 per cent thus far in 2023. Mr. McReynolds says he is going to look for "more attractive and/or timely entry points." Mr. McReynolds says in a note: "At current valuation levels (FTM [forward 12-month] EV/EBITDA of 23.2 times), our focus looking forward is three-fold: (i) the ability to generate organic revenue growth in excess of 6 per cent on a sustained basis; (ii) improved visibility on the impact of accelerated AI adoption on the company's growth and risk profile, including TAM [total addressable market] expansion, organic revenue growth, margins, capex intensity and competitive positioning; and (iii) the extent to which macro uncertainty ultimately translates to a slower net sales environment in H2/23 and into 2024."