TRI - Thomson Reuters: Venture Capital Fund And Cloud Migration In The Limelight

• Thomson Reuters has set up a new venture capital fund, which will give it more M&A opportunities in the long-term, and might also signify a shift in capital allocation priorities.
• TRI has already migrated 35% of its revenues to the cloud, which brings it closer to its 2023 target of 90% as part of the Change Program.
• Thomson Reuters is valued by the market at consensus forward next twelve months' EV/EBITDA and normalized P/E multiples of 29.2 times and 55.1 times, respectively.

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