J.P. Morgan Maintains Neutral on Thomson Reuters (TRI)

J.P. Morgan is out with its report on Thomson Reuters TRI, maintaining Neutral. In a note to clients, J.P. Morgan writes, "We're maintaining our Neutral rating on TRI shares following the company's Investor Day in New York. The meeting was a deep-dive on the Markets division with discussion on longer-term strategy, the Reuters integration, new products/platforms, international expansion, and financial objectives. It's almost Year 4 of the Reuters integration—execution risk still persists, but we're intrigued with the 'platform' strategy and structural cost reductions. Management views Markets as a 4-6% revenue grower, and thinks a ~25% EBITA margin is attainable by 2015 (v. 18% in 2010)." Shares of TRI closed Monday at $39.13.