Amadeus IT: Barclays double upgrades stock

(CercleFinance.com) - Barclays has upgraded its rating on Amadeus IT shares to "overweight" from "underweight", with a target price raised to 70 euros (from 45 euros), saying it "previously underestimated the competitive strength" of the Spanish travel management platform.


"We now see a significant opportunity for Amadeus to further increase its PSS market share, given the relative progress the business has made over the last two years," the broker says.

It expects a five-point market share gain by 2025, " supported by recent contract wins, while further upside would be possible if it were to sign one of the remaining large airlines such as Delta, United Airlines or easyJet".

The share is flying high today - up over 2.5% in afternoon trading.


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