BofA Expects 'No Surprises' from Relx's Upcoming Nine-month Trading Update

06:16 AM EDT, 10/15/2026 (MT Newswires) -- BofA Global Research expects "no surprises" in Relx's (REL.L, REN.AS) core units during its nine-month trading update on Oct. 22, with underlying revenue growth projected to align with the first-half run-rate. In a Wednesday note, analysts forecast the British information analytics company to deliver underlying revenue growth of 7% at group level, while its scientific, technical and medical, risk, and legal units are projected to grow by 6%, 8%, and 10%, respectively. BofA noted that "reassurance" in the update may serve as a catalyst for a sustained valuation multiple rebound. The research firm expects investor focus will shift to the "more instrumental" investor seminar slated for Nov. 3. "We expect focus to increasingly turn from Legal (15% of profit but recently 50% of debate) to: 1) STM, the subject of the upcoming seminar. We are upbeat, expecting growth to improve from 6% in 1H to 8% by 2029E (vs. consensus' 6%). This should be driven by academic publishing's improved market backdrop as AI accelerates research output and enhances value of verifiable content/data, as well as scale-up of LeapSpace, RELX's AI workflow tool for researchers; and 2) Risk is increasingly a focus in investor conversations. Consumer AI agents could potentially supply a new tailwind, reinforcing RELX's AI beneficiary status," the note said. Against this backdrop, BofA maintained its buy rating and price objective of 40 pounds sterling on the stock, adding that the company is included in its "25 for 2026" list and is one of its "top picks."