Wolters Kluwer Negative sentiment is overdone; still stable & predictable with AI upside
Last year Wolters Kluwer's share saw an incredible performance based on the one hand from it's stable & predictable business in a volatile environment, and on the other hand from the upside that AI can bring to the business. Since the announcement of the retirement of CEO Nancy McKinstry, there has been a lot of negative sentiment surrounding Wolters Kluwer. Since its all-time high mid-February, the stock is down 37% this year.While the AI hype in the beginning of this year brought the WKL share to excessive highs, we believe the more recent negative sentiment is overdone. We keep our investment case largely unchanged, maintaining a TP of €154; but given the drop in share price we upgrade our recommendation from Hold to Buy.
Wolters Kluwer operates through four divisions: Health is a global provider of information for medical and health professionals; Financial & Compliance Services is a U.S. provider risk management, compliance, finance, and audit professionals the services they need to optimize risk and business performance, and ensure compliance with local, regional, and global regulation; Tax & Accounting is a provider of tax, accounting, and audit information, and services; and Legal & Regulatory provides customers with expert content, software, and services in the areas of law, business, and regulatory compliance in Europe, North America and Asia Pacific.
We are a financial services provider for several types of professional clients, each with distinct needs.
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