RELX: AI-Driven Growth and Mispriced Valuation Support Buy Rating and Re-Rating Potential

In a report released today, David Amiras from Bank of America Securities reiterated a Buy rating on RELX plc, with a price target of p4,500.00.

David Amiras has given his Buy rating due to a combination of factors tied to both valuation and growth prospects. He highlights that RELX’s share price has been pressured by worries about artificial intelligence, leaving the stock trading at a notable discount to peers despite its strong positioning to benefit from AI. In his view, new AI-driven offerings such as LeapSpace and Protégé, along with stronger-than-expected growth in the STM and Legal units, should unlock a significant re-rating. His forecast assumes a solid multi‑year earnings growth trajectory that is ahead of market expectations and supports nearly 50% potential upside to his price target.

Amiras also argues that RELX is well placed to capture a greater share of the expanding legal technology market through deeper integration of agentic AI and workflow automation, leveraging its large installed user base and distinctive content. He sees STM evolving into a second major growth engine, underpinned by RELX’s scale in academic publishing and new AI-enabled tools that broaden its monetization opportunities with researchers. Meanwhile, the Risk and Exhibitions businesses are expected to sustain robust growth as AI heightens demand for fraud, identity, and face‑to‑face solutions. Taken together, these drivers support his view that current market concerns are overstated and that RELX is mispriced relative to its long-term fundamentals, justifying his Buy recommendation.