Scotiabank analyst Maher Yaghi upgraded Thomson Reuters to Outperform from Sector Perform with a price target of $127, up from $126, arguing that Q4 results reflected continued momentum in its "Big 3" segments. While the company slightly reduced its 2023 free cash flow guidance, this was due to recent divestitures and new investments, not from lower performance from existing businesses, said the firm, which remains confident in business growth stability in FY23 and commends management for a "disciplined approach in balancing growth initiatives and shareholder returns."
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