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Fly News Breaks for November 11, 2019
Nov 11, 2019 | 06:40 EDT
BofA/Merrill analyst Gary Bisbee upgraded Thomson Reuters to Buy from Neutral with a $78 price target. The analyst is positive on the company's accelerating organic revenue growth, margin expansion, strong cash flow, and a healthy dividend - all within a "highly defensive" business. At 22.5-times expected 2020 and 20-times expected 2021 free cash multiple, Bisbee notes that the valuation on Thomson Reuters is toward the "low end" in the information services sector.
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