RELX Shares: Analyst Says Execution Contines to Support Long-Term Case

RELX (LON: REL) remains one of Hargreaves Lansdown’s five shares to watch in 2026, with the firm’s mid-year review noting that while the company has been caught up in the wider AI debate, “the company’s own narrative has been reassuring.”

Hargreaves Lansdown analyst Matt Britzman pointed to April’s trading update, which showed a strong start to the year across all four divisions, with full-year guidance reaffirmed for strong underlying growth in revenue, operating profit and earnings per share at constant currency.

The firm still thinks “RELX looks more like an AI winner than an AI casualty.”

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While the Legal division is an obvious area of investor concern, Hargreaves Lansdown noted that renewals and new sales have remained strong, helped by AI-enabled tools.

The proposed acquisition of French legal AI platform Doctrine also supports the view that RELX “is investing to deepen its European legal AI capabilities rather than standing still.”

Britzman added that recurring revenue, embedded customer relationships and proprietary data remain key strengths for the business, with cash generation supporting investment, dividends and buybacks, though the firm cautioned that shareholder returns are never guaranteed.

The main issue, according to the analyst, is sentiment. The firm said AI-first competitors present a real risk, and investors may want more proof that AI is adding to growth “rather than threatening the moat.” With the valuation having cooled from earlier peaks, Hargreaves Lansdown said execution so far “continues to support the long-term case.”