Report
Michael Field
EUR 100.00 For Business Accounts Only

RELX continues its transition into a business with both a moat and growth opportunities.

As per usual, there were very few surprises from publishing colossus narrow-moat RELX, with underlying revenue growth of 4%, operating profit growth of 6% and earnings growth of 7%, very much in line with the 4-6-8 model that investors have come to expect of late. The first-half numbers were also on track to meet our full-year forecasts; as such, we do not expect to make any material changes to our numbers or to our GBX 1,510 fair value estimate. We believe the current share price is fully up wi...
Underlying
Reed Elsevier N.V. ADS

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Michael Field

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