Scotiabank lowered the firm’s price target on Thomson Reuters (TRI) to $138 from $156 and keeps an Outperform rating on the shares. The company delivered Q1 results ahead of consensus expectations with Big 3 organic revenue growth of 9% showing no sequential deceleration, yet the stock continues to be under pressure on investor fears of AI-driven disruptions, the analyst tells investors in a research note. The firm added that it further lowered its EV/EBITDA valuation multiple to reflect ongoing multiple compression driven by AI disruption concerns across the data services and software peer group.
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