Citi upgraded RELX to buy and Rightmove to neutral, while downgrading Autotrader and flagging WPP as high‑risk amid AI and Middle‑East uncertainty.
The Stoxx600 Media index fell ~18% YTD, lagging the broader index by 14 points, with a 21% 12‑month forward P/E derating.
Wolters Kluwer dropped ~60% since early 2025 but retained a “buy” rating, with target price cut to €99 from €125.
Citi shifted its target price methodology, increasing weight on multiples and reducing DCF reliance, citing ongoing AI concerns.