Another Solid Quarter for RELX, but Shares Fully Valued
RELX released a solid nine-month trading update that was in line with our expectations, with no real surprises whatsoever. Organic revenue growth stood at 4% for the period; if maintained for the full year, this would be the highest full-year level since 2012. We maintain our narrow moat rating for the company and our fair value estimate of GBX 1280 for the London-traded shares, indicating that the shares are currently fairly valued.Divisionally, underlying revenue growth rates varied heavily a...
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.
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