As previously reported, Scotiabank analyst Maher Yaghi assumed coverage of Thomson Reuters with a Sector Perform rating and $126 price target. Thomson Reuters has "re-established itself" as able to consistently deliver mid- to high-single-digit revenue growth as many of the initiatives that management has implemented during the company’s three-year transformation journey are "taking hold", said Yaghi. However, he feels that the stock could be range bound in the short-term given current valuation and the fact that margin upside could be capped by cost inflation heading into 2023, the analyst added.
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Published first on TheFly
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