Analyst George Webb of Morgan Stanley maintained a Buy rating on RELX plc (RLXXF – Research Report), boosting the price target to p3,720.00.
George Webb has given his Buy rating due to a combination of factors surrounding RELX plc’s recent performance and business strategy. The company’s trading update matched Morgan Stanley’s expectations, showing sustained growth momentum in various segments such as Risk, Legal, and Exhibitions. The Legal division, in particular, has been performing strongly, greatly aided by the successful deployment of Lexis+ AI, which is enhancing the overall platform’s capabilities through advanced artificial intelligence. Strong renewal rates and new sales within the Legal sector further solidify the company’s robust position.
Furthermore, the company’s business units are delivering consistent growth, with the report indicating that all sections of the business have had a positive start in 2024. This comprehensive growth trajectory, coupled with the unchanged business unit level guidance and qualitative group guidance, suggests that RELX is on a stable path that aligns with the expectations set forth by Morgan Stanley. George Webb’s confidence is reflected in the Buy rating, indicating a belief in the company’s continued success and the potential for shareholder value appreciation over the next 12 months.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a p4,100.00 price target.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RLXXF in relation to earlier this year.
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RELX plc (RLXXF) Company Description:
RELX is a FTSE 100 diversified information and analytics company. The firm operates across four main areas: scientific, technical, and medical (34% of 2019 sales); risk and business analytics (29%); legal (21%); and exhibitions (16%). RELX Group has three listings: its primary one in London and two more in New York and Amsterdam.
