RELX reports 7 percent growth: Citi cuts RELX stock to Neutral

Published on 10/22/2026 at 09:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

RELX posted 7 percent underlying growth in nine months. RELX stock costs EUR 35.39 on October 22, 2026 at Lang & Schwarz, while outlook stays strong.

Growth and capital allocation

RELX reported 7 percent underlying revenue growth for the first nine months of 2026.
Legal revenue growth reached 10 percent in the same period.
RELX stock was trading at EUR 35.39 at 9:16 a.m. CEST on October 22, 2026 at Lang & Schwarz.
RELX began a GBP 125 million buyback running through December 2, 2026.
Citi raised its target to GBp 3,125 from GBp 2,870 on October 20, 2026.

Trading-Floor mit Kursbildschirmen und Skyline bei Nacht, redaktionelles Symbolbild für RELX plc — RELX plc (ISIN GB00B2B0DG97) wird an der Londoner Börse gehandelt, symbolisiert durch einen belebten Trading-Floor, Illustration mit AI erstellt.

RELX (ISIN GB00B2B0DG97) reported 7 percent underlying revenue growth for the first nine months of 2026 and reaffirmed its full-year outlook in an update dated October 22, 2026. Business Wire carried the company announcement, which kept expectations for strong underlying revenue, adjusted operating profit and adjusted earnings per share growth.

Four divisions supply the growth

The update shows a broad operating base rather than a single-segment result. Risk grew 8 percent, Scientific, Technical and Medical grew 6 percent, Legal grew 10 percent and Exhibitions grew 4 percent in underlying revenue during the first nine months of 2026, according to Business Wire.

Legal is the clearest growth anchor. RELX said adoption of its AI-enabled legal research and analytics platform continued to support higher-value tools, while the group linked its longer-term trajectory to a shift toward analytics and decision products.

What does the valuation signal mean?

Citi downgraded RELX to Neutral from Buy on October 20, 2026, while raising its price target from GBp 2,870 to GBp 3,125. Markets Insider reported that Citi cited valuation after the recent re-rating and saw limited near-term valuation support. The higher target and lower rating point to a more selective view of the stock rather than a change to the operating outlook.

Buyback runs through December 2

RELX also started a GBP 125 million share buyback on October 22, 2026, scheduled to run through December 2, 2026. Investing.com reported that the program forms part of a GBP 2.25 billion buyback plan for 2026. The company also said 87 million treasury shares had been canceled, leaving 1,741,290,013 ordinary shares in issue excluding treasury shares.

RELX's recent chronology includes the GBP 2.25 billion 2026 buyback plan announced on February 12, 2026, shareholder authority for up to 140.3 million ordinary shares at the April 23, 2026 annual meeting, and the October 22, 2026 trading update with 7 percent underlying growth. The next dated capital-allocation event is the current buyback, which is scheduled to continue through December 2, 2026.

Stock price and investor balance

At Lang & Schwarz, RELX stock was trading at EUR 35.39 on October 22, 2026 at 9:16 a.m. CEST. The current picture combines 7 percent group growth with a GBP 125 million capital-return program and a more cautious valuation stance from Citi.

The further course of trading is shown by the continuously updated real-time quote of RELX stock.