Thomson Reuters price target lowered to $189 from $200 at Scotiabank

Scotiabank analyst Maher Yaghi lowered the firm’s price target on Thomson Reuters (TRI) to $189 from $200 and keeps an Outperform rating on the shares. The company’s stock recently experienced a pull-back following in-line quarterly results, driven by headwinds in its government solutions business along with ongoing investor fears that AI startups could disrupt its business model, the analyst tells investors. The firm believes these concerns are misplaced, as competition is confined to near areas of expansion while Thomas Reuters has a ‘strong, dependable moat.”