Market Overview

UPDATE: Bank of America Raises PT on Thomson Reuters Corporation Following Investor Day

Related TRI
TRI Pointe Homes Announces Additions To Board of Directors
Thomson Reuters Announces Election of Three New Members to Board of Directors

In a report published Monday, Bank of America analyst Sara Gubins reiterated a Buy rating on Thomson Reuters Corporation (NYSE: TRI), and raised the price target from $33.00 to $36.00.

In the report, Gubins noted, “Thomson Reuters' investor day reinforced our view that TRI is positioning itself to turn around the F&R segment (financial news, information, and analytics services; 51% of adj. EBITDA). With increased confidence in Eikon 3.0 (next gen desktop platform), we are increasing our target by $3 to $36, or 10x ‘14E EBITDA & 17x ‘14E EPS. We argue a premium multiple is warranted (historical 9x EBITDA) as TRI is in the early stages of improving results & operations. We note a 4% dividend yield and 8% of float is short, which could lead to a squeeze over time.”

Thomson Reuters Corporation closed on Friday at $32.24.

Posted-In: Bank of AmericaAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (TRI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters