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Thomson Reuters - >>> Blue-Chip Stocks to Buy and Hold Forever: January 2024


Investor Place

by Joel Baglole

January 25, 2024


https://finance.yahoo.com/news/3-blue-chip-stocks-buy-223000190.html


Thomson Reuters (TRI)

It’s a challenging time for media companies, especially newspapers. The industry is awash in layoffs and red ink. Yet Thomson Reuters (NYSE:TRI) continues to buck the trend and its stock is now trading near an all-time high. The company’s bread-and-butter continues to be its international newswire, which media outlets are relying on more than ever as they cut back their own newsrooms. However, Thomson Reuters continues to make strategic investments in new areas, including artificial intelligence (AI).

Most recently, Thomson Reuters has increased an offer it made to buy Swedish tax preparation firm Pagero by 25% to $789 million. Thomson Reuters already controls 54% of Pagero and is seeking to gain 100% control of the company, which it hopes to add to its other accounting services that include digital firms such as Checkpoint. Thomson Reuters has a strategy to grow through mergers and acquisitions and has a $10 billion M&A budget through 2025.

TRI stock has gained 22% in the last 12 months and is up 181% over five years.

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