Thomson Reuters (TRI) Gets a Hold Rating from CIBC
Thomson Reuters (TRI), the Services sector company, was revisited by a Wall Street analyst yesterday. The company received a Hold rating from CIBC’s analyst Robert Bek, with a C$53 price target.
According to TipRanks.com, Bek is ranked #732 out of 5124 analysts.
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Currently, the analyst consensus on Thomson Reuters is a Moderate Buy with an average price target of C$65.60, implying a -3.2% downside from current levels. In a report released today, 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 Wednesday at C$67.80.