Market Overview

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

Related TRI
Benzinga's Top Upgrades, Downgrades For November 8, 2017
A Peek Into The Markets: U.S. Stock Futures Climb; Facebook Earnings In Focus

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.

Latest Ratings for TRI

Nov 2017Goldman SachsInitiates Coverage OnSell
Nov 2017Credit SuisseMaintainsNeutral
Nov 2017Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for TRI
View the Latest Analyst Ratings

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


Related Articles (TRI)

View Comments and Join the Discussion!