Deutsche Bank sees 31% upside in RELX (LSE:REL), reiterating a Buy rating and an unchanged 3050p price target against a last close of 2328p ahead of the information and analytics group's first-half results on 23 July.
Analyst Steve Liechti argues that recent management meetings reinforced his positive view on both strategic positioning and trading, with AI-related fears in the market significantly overstated given the quality and exclusivity of the company's underlying data assets.
For the first half of 2026, Liechti forecasts 7% like-for-like revenue growth, noting that scientific, technical and medical segment upside is weighted toward the second half in his model, with some near-term disruption to the Events division from the Middle East; the analyst contends that RELX's proprietary content and established large-model infrastructure cannot be replicated or accessed by large language models or open-market alternatives.
The key near-term proof point is the 23 July first-half update, which Liechti expects to demonstrate the consistent organic revenue growth he sees as the foundation of the investment case.
