Thomson Reuters price target lowered to $111 from $178 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Thomson Reuters (TRI) to $111 from $178 and keeps a Buy rating on the shares. The company reported healthy Q4 results that outperformed consensus on revenue and earnings, and despite macro uncertainty and increased broader competition from AI, TRI delivered robust 9% y/y organic revenue growth in its Big 3 segments, the analyst tells investors in a research note. Thomson Reuters’ ability to generate robust and accelerating high-single-digit organic revenue growth in its Big 3 segments with significant margin expansion supported by a wide competitive moat will drive a recovery in the valuation multiple, the firm added.