Amadeus: UBS downgrades share
(CercleFinance.com) - UBS has downgraded Amadeus shares from Buy to Neutral, while raising its target price for them from E66.
3 to E71 (cp: E68, -0.8%).
The analyst highlights the slowdown in the growth momentum. "We see more limited upside as traffic normalisation levels near completion and the "deficit" in the pace of GDS recovery may last for a while," the broker says.
Amadeus reported a 72.3% rise in Q1 EBITDA to E509.8m, while adjusted profit jumped 187.6% to E273.1m.
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