Barclays Maintains Their Hold Rating on Thomson Reuters (TRI)
According to The Fly, thomson Reuters (TRI), the Services sector company was revisited on December 7, yet the Wall Street analyst remains currently on the sidelines. The company recieved Hold rating from Barclays’ analyst Manav Patnaik.
According to TipRanks.com, Patnaik is a 5-star analyst with an average return of 10.3% and a 67.0% success rate. Patnaik covers the Services sector, focusing on stocks such as Emerald Expositions Events Inc, Thomson Reuters Corp, and Factset Research.
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Currently, the analyst consensus on Thomson Reuters is a Moderate Buy with an average price target of C$66.50, implying a -1.0% downside from current levels. In a report issued on December 5, Canaccord Genuity also downgraded the stock to Hold.
Based on Thomson Reuters’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$341 million. In comparison, last year the company had a net profit of C$415 million.
Thomson Reuters Corp. engages in the provision of news and information for professional markets. It operates through the following business segments: Financial & Risk, Legal, and Tax & Accounting.
The company’s shares closed on Friday at C$67.18.