Citi upgraded RELX and Rightmove, downgraded Autotrader, flagged WPP as high‑risk due to AI and macro uncertainty.
Stoxx600 Media index fell ~18% YTD, underperforming the broader index by 14 points, with average 21% forward P/E derating.
Wolters Kluwer down ~60% since 2025 but kept “buy” rating; target cut to €99 from €125.
Citi revised target methodology, increasing multiple weighting, citing AI concerns and Middle East conflict as ongoing valuation pressures.