RELX Publishes Solid 3Q, Shares Up With Events Though
Narrow-moat RELX’s third-quarter trading update was almost bang in line with our full-year expectations. Underlying revenue growth stood at 4%, in line with 2016 full-year growth. Management have also reiterated their full-year guidance. We do not expect to make any changes to our forecasts, nor to our GBX 1400 fair value estimate for the U.K.-listed shares. We believe the shares are moderately overvalued.Divisionally, there were no real surprises, with each of the four divisions continuing at ...
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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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