Canaccord analyst Aravinda Galappatthige last night upgraded Thomson Reuters (TRI) to Buy from Hold with a price target of $174, down from $182. The company’s earnings and adjusted EBITDA were better than expected in Q3 on costs, while its revenues were in line, the analyst tells investors in a research note. The firm cites upside to Thomson’s growth expectations and “solid positioning from a balance sheet perspective” for the upgrade. It sees the recent selloff in the shares as an opportunity to upgrade.
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