03:38 PM EDT, 03/14/2024 (MT Newswires) -- Thomson Reuters' ( TRI ) AI-embedded workflows will support price increases and improve retention, UBS said in a note Thursday.

The investment firm said Reuters' short-term and long-term guidance seems conservative given the increase in generative artificial intelligence integration, launch, and monetization in 2024.

The market is realizing a significant change in the underlying structure of Reuters' business model to factor in the shift to cloud-based operations from traditional service offerings, according to the note.

UBS said Reuters plans to drive cross-selling opportunities by consolidating its AI legal tools into a single product and enhancing user retention with experts refining AI models and curating databases.

The company's potential retention improvement enhances its attractiveness, the firm added.

UBS reiterated its buy rating on Reuters and kept the price target at $177.

Price: 157.00, Change: +0.60, Percent Change: +0.38