09:51:40 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



Thomson Reuters Corp (3)
Symbol TRI
Shares Issued 452,962,832
Close 2024-02-07 C$ 200.99
Market Cap C$ 91,040,999,604
Recent Sedar Documents

Globe says Thomson Reuters kept at "sector perform"

2024-02-07 07:40 ET - In the News

The Globe and Mail reports in its Wednesday, Feb. 7, edition that RBC Dominion Securities analyst Drew McReynolds has reaffirmed his "sector perform" recommendation for Thomson Reuters. The Globe's David Leeder writes in the Eye On Equities column that Mr. McReynolds continues to target the shares at $149 (all figures U.S.). Analysts on average target the shares at $139.31. The company posts its fourth quarter financial results on Thursday. Mr. McReynolds warns of "an eventful quarter." He says in a note: "Concurrent with Q4/23 results, we expect management to provide 2024 guidance and potentially a broader 2024-2026 outlook. Thematically, we believe 2024 will represent a transition year of reinvestment, GenAI deployment/monetization and M&A integration setting the stage for accelerating organic revenue growth in 2025 and 2026. ... At current valuation, we believe the bar to deliver consolidated organic revenue growth in excess of 6 per cent has quickly risen with the organic revenue growth trajectory over the 2024-2026 period now taking centre stage. While we remain patient for more timely and/or attractive accumulation points, we believe current valuation levels are fundamentally justified."

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