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- 1 REL stock price: The company is rated bullish by most analysts. Know more in the article below
- 2 The firm is making revenues at the rate of 3.02% while being cash-positive
- 3 The share price has broken multiple resistances as it surges
RELX plc (LON: REL) is a multinational company that specializes in providing analytical and informational services. The company is headquartered in London, England. It offers a range of services such as scientific, technical, and medical information, legal information, along with analytics, decision-making tools, and exhibitions organization.
What do institutional analysts think about the REL stock?
In recent times, the company has received a range of price targets from different analysts. A price target increase from Barclays analysts, who raised their estimate from £2,770 to £2,860 in a research note issued on Tuesday, as reported by Digital Look. The analysts have maintained an “equal weight” rating on the stock. According to Barclays, the revised price target indicates a potential upside of 3.70% from the company’s previous close.
Some other big names in the finance industry have given their opinion on Relx. Berenberg Bank rated it as a “buy” with a £3,270 price target, Investec upgraded it to “buy” with a £2,850 price target, and JPMorgan Chase & Co. increased its price target from £3,100 to £3,170.
What made the stock so bullish in the eyes of Institutions
Most equity research firms and analysts gave the stock a buy rating. Going through its half-yearly financials, we get all our answers. The company is reporting huge growth in its revenue, with a compound semi-annual growth rate of 3.02% since December 2021. the sales numbers have also been transformed into net income over the years and, furthermore, into dividends. The company is maintaining its cash while growing its revenues significantly.
Technical Analysis and Prediction of the REL Stock Price
The REL stock price is trading at £2804 after the start of the bullish rally. The stock recently reached its all-time high of £2831 on 20th September. This stock is currently in its supply zone of £2855 as the bears try to push the price further.
The RSI, on the other hand, is a little far from its oversold zone from 70, at 65. The Bulls can make another all-time high if they keep with the trend. The price prediction, however, is also towards the REL stock making its way to the immidiate support of £2766 before preparing for another breakout.
Conclusion
RELX plc (LON: REL) is a multinational company on LSE. The REL stock price has been given the majority of buy ratings from analysts because of its impressive financial reports over the years. The stock is in an uptrend and it has recently made an all-time high. The price prediction for the stock is bearish till it takes a rebound from its support
Technical Levels
Support: 2736, and £2619
Resistance: £2826
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
