Amadeus IT Group SA

AMS: XMAD (ESP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€46.00	Gftlllc	Cktsmhkbt

Amadeus IT Earnings: Solid Revenue and EBITDA Growth Support Static Outlook

Dan Wasiolek

Nov 7, 2023

Narrow-moat Amadeus reported solid third-quarter results and reiterated its 2023 sales and EBITDA guidance. Our fair value estimate for the company is EUR 62 per share. We view shares as appropriately valued after its 5% move in reaction to results.

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