George Webb, an analyst from Morgan Stanley, maintained the Buy rating on RELX plc (RLXXF – Research Report). The associated price target is p4,520.00.
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George Webb has given his Buy rating due to a combination of factors that highlight RELX plc’s strategic positioning in the legal AI market. The recent partnership between LexisNexis, a segment of RELX, and Harvey, a rapidly growing AI technology company, is a significant development. This alliance aims to integrate LexisNexis’ comprehensive legal content with Harvey’s platform, enhancing the capabilities of legal AI workflows and providing users with reliable AI-driven legal insights.
Webb’s rating reflects the potential of this partnership to solidify RELX’s leadership in the legal AI sector. Despite potential concerns about overlapping products, the collaboration is seen as a positive move that could drive growth and increase valuation multiples for RELX. The strategic alliance with Harvey positions RELX to capitalize on the expanding opportunities in the legal AI industry, reinforcing its competitive edge against other market leaders like Thomson Reuters.
According to TipRanks, Webb is a 3-star analyst with an average return of 3.9% and a 59.68% success rate.
In another report released on June 16, Bank of America Securities also reiterated a Buy rating on the stock with a p4,900.00 price target.
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