No Alarms and No Surprises for RELX in 3Q
Narrow-moat RELX’s nine-month trading update contained nothing in the way of surprises, with underlying revenue growth of 4%, bang in line with our expectations for the full year. The full-year outlook was also unchanged from earlier in the year. We do not expect to make any material changes to our forecasts on the back of these numbers, nor to our GBX 1,510 fair value estimate. We believe the shares are currently up with events.Divisionally there were no real surprises, with the risk & bus...
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.
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