TD Securities Downgrades Thomson Reuters (TRI) to Hold

TD Securities downgraded Thomson Reuters (NYSE: TRI) from Buy to Hold with a price target of C$51.00 (from C$49.00).

Analyst Vince Valentini said, "We continue to like the underlying story and expect cost-saving initiatives, coupled with modest organic growth, to help Thomson deliver a 15% EPS CAGR between 2014 and 2017. But, with the stock up 28% since we upgraded the shares to Buy in early-June 2014, we believe that the valuation now more appropriately reflects the earnings outlook. If net sales slip back into negative territory in Q4, and we see a pullback in the shares, we would consider upgrading the stock again."

For an analyst ratings summary and ratings history on Thomson Reuters click here. For more ratings news on Thomson Reuters click here.

Shares of Thomson Reuters closed at $39.56 yesterday.

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