Narrow-Moat RELX Prints a Solid First Half
RELX’s first-half results were reassuringly dull, highlighting the robustness of the firm's business model and delivering underlying revenue and EPS growth of 4% and 8%, respectively. These underlying numbers were almost bang in line with our forecasts; as such, we do not expect to make any changes to our estimates or to our GBX 1,400 fair value estimate for the RELX PLC shares. We reiterate our narrow moat rating for the company.RELX has transformed itself from a business with almost two third...
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