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Analysts set C$46 price target for TRI shares

Equities researchers and analysts have sharply revised their forecasts for the performance of Thomson Reuters shares traded on the Toronto Stock Exchange.

The latest, Scotiabank, hoisted its target price on the Canadian shares to C$46 from C$41 in a research report issued on Wednesday. That price suggests a potential upside of nearly 16 per cent from the stock’s previous closing price.

Wednesday’s TRI close on the TSE was slightly down at just under C$40 at C$39.73. The stock’s 52-week range is C$26.84 to C$40.61.

Analysts at Barclays recently raised their price target on TRI shares to C$40 from C$34.50. They now have an Equal Weight rating on the stock. Separately, analysts at RBC Capital upgraded the shares to an Outperform rating. They also have a C$40 price target, up from C$35.00. Analysts at Morgan Stanley initiated coverage on TRI shares on 30 October, setting an Equal Weight rating.

One analyst has rated the stock Sell, seven say Hold and three recommend Buy. Thomson Reuters has an average rating of Hold and a consensus target price of C$39.83.

Thomson Reuters are also traded on the New York Stock Exchange. ■