Amadeus: Berenberg initiates with a 'buy'

(CercleFinance.com) - Amadeus shares are up around 1% at 71.
5 euros this Tuesday after Berenberg initiated its coverage of the Spanish travel technology group with a "buy" rating and a target price of 90 euros.

The German broker says Amadeus - which processes transactions for the global travel industry - has seen its share price rise by an impressive 30% per year over 2011-2018.

In a research note, Berenberg writes that there is more upside from further market share expansion, thanks to an increasing proportion of subscription-based (SaaS) software sales.

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