The Globe and Mail reports in its Friday, Sept. 8, edition that National Bank Financial analyst Adam Shine has reaffirmed his "sector perform" recommendation for Thomson Reuters. The Globe's David Leeder writes in the Eye On Equities column that Mr. Shine cut his share target back by $8 to $186. Analysts on average target the shares at $186.20. The Globe reports that Mr. Shine is "pleased" Thomson Reuters is "accelerating the pruning down of its stake" in London Stock Exchange Group. However, he says the "more rapid sale process is naturally dissipating some of the added value we'd assumed would materialize over the next year or two via possible gains in LSEG's stock price." Mr. Shine says in a note: "We estimate that TRI's cash balance jumps to $3.7-billion in Q3 from $2.9-billion in Q2 and $1.1-billion in 2022. Leverage appears to be tracking toward what we think might be just over 0.8 times with leases from 1.2 times in Q2 and 1.7 times in 2022. While management continues to telegraph expectations of another dividend increase next year of around 10 per cent, Thomson Reuters remains on the hunt for M&A to complement organic growth and could get active again with share repurchases."