Modestly Increasing Fair Value Estimate for Narrow Moat RELX to GBX 1400
Following the recent set of full-year results from narrow-moat RELX, we are increasing our fair value estimate for the stock by just over 9% from GBX 1280 to GBX 1400 for the UK listing, EUR 15.60 to EUR 16.10 for the Dutch listing, and from USD 17.40 to USD 17.30 for the ADRs. These fair value movements take into account the time value of money, changes to the share count following substantial buybacks over the period, and changes in foreign exchange rates.Over the last decade RELX has transfo...
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