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UPDATE: Goldman Sachs Resumes Coverage on Thomson Reuters as Valuation Reflects Weak Fundamentals

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In a report published Friday, Goldman Sachs analyst Andre Benjamin resumed coverage on Thomson Reuters Corporation (NYSE: TRI) with a Neutral rating and $35.00 price target.

In the report, Goldman Sachs noted, “We resume coverage of TRI with a Neutral rating and a $35 12-month EV/EBITDA-based target price due to 8% total return, largely in line with the 4% average upside for the group. TRI has been the worst performing stock under coverage the last three years (-42% vs. the S&P 500 since January 2011) as results for its Financial & Risk (F&R) division (54% of 2013E revenue) deteriorated. The decline was driven by lower spending by financial institution clients and loss of market share due to poor execution on a series of upgrades to its Eikon integrated desktops. YTD the stock is roughly flat vs. the S&P.”

Thomson Reuters Corporation closed on Thursday at $35.37.

Latest Ratings for TRI

DateFirmActionFromTo
Jan 2021National Bank Of CanadaUpgradesSector PerformOutperform
Nov 2020ScotiaBankMaintainsSector Perform
Nov 2020BMO CapitalMaintainsOutperform

View More Analyst Ratings for TRI
View the Latest Analyst Ratings

 

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Posted-In: Andre Benjamin Goldman SachsAnalyst Color Initiation Analyst Ratings

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