Amadeus IT Group SA

AMS: XMAD (ESP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€34.00	Mlgsbzz	Ktkqlkmq

Amadeus IT Earnings: Modest Demand Recovery Continued in the First Half of the Year, Led by Asia

Dan Wasiolek

Jul 28, 2023

Narrow-moat Amadeus IT shares traveled 4% lower, as we think demand recovery in the first half may have disappointed some investors. Amadeus shares still trade slightly above our EUR 60 fair value estimate even after the modest pullback.

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