In a report released today, Gary Bisbee from Merrill Lynch reiterated a Buy rating on Thomson Reuters (TRI), with a price target of $82.00. The company’s shares closed last Wednesday at $69.56.
According to TipRanks.com, Bisbee is a 5-star analyst with an average return of 11.2% and a 67.5% success rate. Bisbee covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Bright Horizons, and Robert Half.
Currently, the analyst consensus on Thomson Reuters is a Moderate Buy with an average price target of $78.42, a 13.6% upside from current levels. In a report issued on May 1, RBC Capital also maintained a Buy rating on the stock with a $73.00 price target.
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Based on Thomson Reuters’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.58 billion and net profit of $1.32 billion. In comparison, last year the company earned revenue of $1.53 billion and had a net profit of $3.38 billion.
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Thomson Reuters Corp. engages in the provision of news and information for professional markets. It operates through the following segments: Legal Professionals, Corporates, Tax Professionals, Reuters News and Global Print. The Legal Professionals segment provides research and workflow products, focusing on intuitive legal research powered by emerging technologies and integrated legal workflow solutions that combine content, tools and analytics to government and law firms. The Corporates segment serves corporate customers, including the seven largest global accounting firms, with full suite of offerings across legal, tax, regulatory and compliance functions. The Tax Professionals segment offers research and workflow products, focusing on intuitive tax offerings and automating tax workflows to government taxing authorities. The Reuters News segment supplies real-time, multi-media news and information services to newspapers, television and cable networks, radio stations and websites around the globe, as well as to Refinitiv. The Global Print segment offers s legal and tax information primarily in print format to customers around the world. The company was founded in 1799 and is headquartered in Toronto, Canada.
