Analyst David Amiras of Bank of America Securities reiterated a Buy rating on RELX plc (RLXXF – Research Report), boosting the price target to p4,900.00.
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David Amiras has given his Buy rating due to a combination of factors including the promising developments in RELX’s Legal division. The introduction of Lexis+ AI has positioned the company at the forefront of legal research automation, a sector that is still in its early stages of discovery. Amiras believes that the market is underestimating the potential growth in this area, as evidenced by the raised revenue forecasts and the expectation of a re-rating compared to peers like Thomson Reuters.
Furthermore, RELX’s substantial investment in technology, particularly in AI, is seen as a strategic move that could lead to significant returns. The company’s efforts to expand its user base and enhance its AI capabilities have resulted in a strong competitive position, with potential for high returns on investment for law firms. With a large addressable market and growing adoption of AI solutions, Amiras sees substantial growth opportunities ahead, justifying the Buy rating and the increased price objective.