Thomson Reuters: National Bank Raises Valuation on Growth Forecasts

Canadian Analyst Updates: Nov 5th, 2025

Thomson Reuters Corp (TRI:CA) (TRI)

Thomson Reuters Corp received a target price increase from National Bank of Canada, which raised its outlook on the stock to C$300 from C$286. The valuation upgrade reflects confidence in the company’s performance, specifically its expectations of sustained and organic growth in the second quarter. This positive revision suggests that National Bank anticipates continued momentum across Thomson Reuters’ core businesses, driven by steady demand for its legal, tax, and accounting information services. The firm’s recurring revenue model and successful implementation of strategic initiatives may also be contributing to analyst optimism. The revised target implies stronger fundamentals and could signal a favorable long-term trajectory for the stock.

Thomson Reuters Corp currently has a consensus analyst rating of “Hold”, indicating that while the company maintains a stable financial outlook, analysts are taking a cautious stance on near-term growth potential. This consensus reflects a balanced mix of Buy and Hold recommendations, underscoring confidence in the company’s fundamentals despite limited short-term catalysts.

The average 12-month target is $275 per share, suggesting the stock is fairly valued at current trading levels.  The muted upside may reflect investor concerns around slower growth in certain business segments or macroeconomic uncertainty, even as the company continues to benefit from recurring revenue streams, product innovation, and robust demand for its legal, tax, and regulatory data services. Overall, the “Hold” consensus and restrained price target range signal a wait-and-see approach, with investors looking for stronger earnings momentum or strategic developments to re-rate the stock higher.

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