TD Newcrest Downgrades Thomson Reuters (TRI) to Buy; Slow Road to Recovery

TD Newcrest downgraded Thomson Reuters (NYSE: TRI) from Action-List Buy to Buy, price target cut from C$43 to C$33.

TD analyst says, "We believe TRI shares are heavily discounted, and at 12.9x 2012E earnings this is an attractive entry point for long-term investors. However, with European economic uncertainty, and negative net sales in the market division in the second half of 2011, we believe investors will be forced to be patient. With a prospective dividend yield of 4.7% patience will be rewarded, and should help to protect any further downside."

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 $27.43 yesterday.

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