Relx PLC: RISK - Business Services Webinar

研报英文原文证据摘录

Relx PLC: RISK - Business Services Webinar

Deutsche Bank Group

Deutsche Numis Research

Rating Company Date

Buy Relx PLC 14 May 2026

Company Update

Europe

United Kingdom

Reuters Bloomberg Exchange Ticker Price at 12 May 2026 (GBP) 2,455.00

REL.L REL LN LSE REL

Price Target (GBP) 3,050.00

Media and Online

Publishing ADR ISIN 52-week range (GBP) 4,129.002,013.00-

RUK US7582052079

RISK - Business Services Webinar

Valuation & Risks

Steve Liechti

Positive RISK Business Services webinar: The session was detailed, but at high

Research Analyst

level, underpinned our view that RELX is a technology and data-led leader, with +44-20-7541-1549

a strong moat vs new AI models and LLMs. We see RISK (a key RELX segment)

sustaining HSD LFL revenue growth and strong margin given its combination of Gareth Davies

data, long-standing tech/AI positioning and ability to leverage its position with

+44-20-754-11560

new technologies to continue to innovate. Buy/PT 3050p (unchanged).

Annabel Hames

Buy – we see good value given solid/consistent LFL revenue growth with AI worries Research Analyst

overplayed. RELX looks well positioned to leverage its high-quality proprietary +44-20-754-11574

content/data sitting on well invested big data infrastructure, that LLMs/open

Price/price relative

market models cannot access nor replicate.

RELX technology enabler drives innovation. RELX spends $2bn a year on 4000

technology, with 12k technologist FTEs and over 15 years of big data and AI/ 2000

machine learning experience. RELX works with key LLMs and can rapidly integrate 0

new products/services across its tech stack. 2024 2025 2026

Relx PLC – (Rebased)

RISK positioning within RELX. RISK is 36% of FY26E revenue ex print (£3.7bn) and