UPDATE: Deutsche Bank Reiterates Hold Rating, Lowers PT on Thomson Reuters Corporation

In a report published Wednesday, Deutsche Bank AG reiterated its Hold rating on Thomson Reuters Corporation (NYSE: TRI), but slightly lowered its price target from $30.00 to $29.00.

Deutsche Bank noted, “EPS beat by $0.03 but revenue, profit and cash flow all missed. While TRI is making good operational progress and enjoys a strong competitive position, it is also fighting a battle with an uncertain environment. The 4.5% dividend yield helps make the shares more interesting from a value standpoint, but we see ongoing headwinds in the core Legal and Markets businesses and few positive catalysts. Target lowered from $30 to $29 on a 4% cut to 2013 EBITDA.”

Thomson Reuters Corporation closed on Tuesday at $28.44.