UPDATE: Deutsche Bank Cuts Target on Thomson Reuters to $30

Deutsche Bank maintains its Hold rating on Thomson Reuters

and lowers its price target by $2 to $30 on reduced guidance from the company as it released results from its latest quarter. Deutsche Bank notes, "Actual results were only slightly below our muted expectations (except for FCF), with a bit of organic upside, yet guidance on 2012 margins was well below. Legal is mildly slowing, Markets is facing at least 2-3 more quarters of negative sales, and more investments are on the way, making 2012 another transition year for TR. While TR's 4.6% dividend yield helps make the shares more interesting from a value standpoint, we see ongoing headwinds in the core Legal and Markets businesses and few positive catalysts." TRI closed at $27.43 a share on Friday.