Q: Any reason for the repurchase as of $1 billion? Do you think the company is undervalue and causing such action. What is the good price to buy in?
5i Research Answer:
We think $235 is a good price. TRI has excess capital currently, and views its stock as undervalued after its post-earnings decline (we have comments posted on earnings). Despite the decline we continue to view it as one of the best large-cap growth companies in Canada.