Wells Fargo Upgrades Thomson Reuters To Overweight, Shares Gain 2%

Core Viewpoint - Wells Fargo upgraded Thomson Reuters from Equal Weight to Overweight and increased its price target from $187 to $212, indicating a positive outlook for the company's stock performance [1] Group 1: Stock Performance - Shares of Thomson Reuters rose nearly 2% in premarket trading following the upgrade by Wells Fargo [1] Group 2: AI and Market Position - Analysts noted that concerns regarding artificial intelligence had led to a contraction in the stock's multiple, but argued that Thomson Reuters is well-positioned to benefit from AI adoption [1] Group 3: Revenue Growth - Growth in the Legal segment is expected to accelerate in the second half of the year, driven by the uptake of Westlaw Precision and Advantage [2] - Recurring revenue for Thomson Reuters is currently running at 9%, with easier comparisons for transactional revenue providing additional support [2] - The Advantage upgrade cycle is identified as a key long-term driver of growth for the company [2]