Morgan Stanley lowered the firm’s price target on Thomson Reuters (TRI) to $187 from $197 and keeps an Equal Weight rating on the shares. GenAI is fueling a rapid pace of change in lawyer workflows and driving revenue acceleration for Thomson Reuters and Relx‘s (RELX) Legal businesses, notes the analyst, who sees two data-related areas of moat for the pair of “dominant players” in the U.S. legal reference information market. While Thomson Reuters and Relx continue benefiting from GenAI in Legal, competition debates are likely to impede the near-term valuation multiple trajectory, the firm said, adding that it has a “clear preference for Overweight RELX over Equal-weight Thomson Reuters at this junction.”
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