Amadeus: Oddo rocks the stock, raising target price
(CercleFinance.com) - Oddo BHF reinstates its "outperform" rating on Amadeus IT shares, which it makes a "top pick" in the software sector, having increased its target price for the shares from 73 euros to 75 euros, following the release of solid quarterly results at the end of last week.
The broker takes into account new, more optimistic forecasts for the group, following better-than-expected revenue and EBITDA for Q1, but also a drop in the average valuation of the software sector.
Amadeus continues to benefit from a strong recovery momentum, without being very sensitive to the impact of rising long-term interest rates, the analyst says, for whom Amadeus is also one of the cheapest players in the software sector.
The market doesn't seem to agree though - at least not today - Amadeus shares are currently down almost 2% at aviyt 59 euros in Madrid.
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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.
The broker takes into account new, more optimistic forecasts for the group, following better-than-expected revenue and EBITDA for Q1, but also a drop in the average valuation of the software sector.
Amadeus continues to benefit from a strong recovery momentum, without being very sensitive to the impact of rising long-term interest rates, the analyst says, for whom Amadeus is also one of the cheapest players in the software sector.
The market doesn't seem to agree though - at least not today - Amadeus shares are currently down almost 2% at aviyt 59 euros in Madrid.
Copyright (c) 2022 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.