National Bank Provides Color on Thomson Reuters, Outperform

National Bank provided color on Thomson Reuters TRI after the company announced its plans to sell its Healthcare division by the end of this year. In a research report published today, National Bank states "TRI has indicated that its guidance for 2011 ex-FX is unchanged as it continues to call for mid-single digit revenue growth, EBITDA margin expansion of at least 300 bps, Underlying Operating margin expansion of at least 100 bps after absorbing 70 bps of higher D&A, and reported FCF growth of 20%-25%. Proceeds from the expected sale will be used as usual to invest organically in TRI's core businesses, invest in related M&A, and return capital to shareholders." National Bank decided to reiterates its Outperform rating on the company's stock. On Monday, Thomson Reuters lost 0.61% of its value to close the day at $37.60.