On July 30, Thomson Reuters declined 5.19% in regular trading, trading at approximately $100.27 per share, with turnover of $33.2 million. The pullback was triggered by RBC Capital Markets cutting its price target on the stock from $129 to $121, while maintaining its Outperform rating.
The target price reduction came after Thomson Reuters had rallied over 10% in the prior two trading sessions following its announcement of a $500 million joint venture with KKR for its global print business. The sharp reversal suggests short-term profit-taking dominated sentiment. According to FactSet, the analyst consensus mean price target stands at $120.03, with an average overweight rating. The broader Research and Consulting Services sector also faced selling pressure, with peers Verisk Analytics declining 5.44% and Relx PLC falling 4.42% on the same session.
Thomson Reuters is scheduled to report Q2 fiscal year earnings on August 5, with consensus estimates calling for adjusted EPS of $0.96 and revenue of approximately $1.914 billion, representing year-over-year growth of 6.83%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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