Amadeus: UBS upgrades to 'buy' on liquidity

(CercleFinance.com) - UBS analysts have upgraded their rating on the Amadeus share from "neutral" to "buy" on Monday, saying that the Spanish travel booking group is well placed to capitalise from the recovery, when it comes.


"While the first quarter will confirm exceptionally challenging conditions, Amadeus has the financial firepower to weather them and is best-placed to capitalise on a recovery," it said.

Amadeus has access to liquidity of over 4 billion euros, with just 1.7 billion euros of repayment obligations this year and next, the broker also pointed out in a research note.

UBS has cut its target price for the stock from 48 euros to 46 euros.

The Amadeus share is currently down 2.8% in Madrid.

Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.