08:18 AM EDT, 05/02/2024 (MT Newswires) -- Thomson Reuters Corp. ( TRI ) shares should rise as a result of its its quarterly results reported before market open on Thursday, TD Securities said in a note to clients.

"We expect TRI shares to retest 52-week highs soon (5% above current) on the back of this print, with a meaningful 10% beat on EBITDA versus consensus," analyst Vince Valentini said in a note to clients.

"Having a higher valuation than most peers sets a high standard for results, but TRI delivered with a big beat on margins in Q1/24 and increased revenue growth guidance for FY24," Valentini said.

The analyst maintained a Hold rating and $225 price target on the stock.

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