Citi reiterates 'buy' rating on LSEG after 'innovation forum' event

(Sharecast News) - Citi reiterated its 'buy' rating on London Stock Exchange Group on Tuesday following the company's 'innovation forum' event a day earlier, during which it provided details on newly-developed products across all divisions. The bank noted that LSEG shares underperformed by 2% since the start of the event, with investors focused on a perceived change of guidance to data and analytics TAM growth.

"It was clarified during the Q&A, that started at 17.15 UKT, that there was no change in expectations," Citi said.

"We came away more confident that LSEG's product pipeline compares well to its peers and investor expectations, particularly for Workspace, where investors fear substitution from AI-led challengers."

Citi added that new data on LSEG's tick history usage supports its bullish view on real-time data.

At 1030 GMT, the shares were up 1.3% at 9,192p.