Deutsche Bank upgrades Amadeus IT Group stock to Buy

Published on 10/07/2026 at 10:08 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Target is EUR 71.50 versus EUR 58.00 on September 16, 2026. Amadeus IT Group stock costs EUR 52.39 versus EUR 52.38, plus 0.02 percent.

Delicate watercolor of Madrid skyline at sunset with Puerta de Alcalá triumphal arch centered, warm amber washes, Retiro park greenery foreground — Amadeus IT Group ES0109067019 watercolor Madrid skyline Puerta de Alcalá arch at golden hour, Illustration mit AI erstellt.

Amadeus IT Group (ISIN ES0109067019) was trading at EUR 52.39 at Lang & Schwarz on October 7, 2026 at 10:02 a.m. CEST, plus 0.02 percent versus the prior close of EUR 52.38. On September 16, 2026, Deutsche Bank upgraded the company to Buy from Hold and raised its price target from EUR 58.00 to EUR 71.50, according to Yahoo Finance.

Target gap reaches 36.48 percent

The new target stands 36.48 percent above the Lang & Schwarz price, calculated from EUR 71.50 and EUR 52.39. Deutsche Bank's case rests on Amadeus remaining essential infrastructure for travel connectivity while artificial intelligence changes how customers search and book.

The same analysis identifies a clear counter-factor: faster artificial intelligence disintermediation could pressure booking volumes, pricing and the global distribution system. Deutsche Bank's bear case put the 2028 earnings-per-share impact at 5.00 percent, a risk the bank described as manageable, according to Yahoo Finance.

First-half growth meets softer outlook

Amadeus generated EUR 3.335 billion of revenue in the first half of 2026, up 5.00 percent at constant currency and 2.00 percent on a reported basis. Adjusted EBIT reached EUR 1.012 billion, up 5.00 percent at constant currency, while adjusted diluted earnings per share increased 7.00 percent, according to Yahoo Finance.

Free cash flow was EUR 472 million in the first half, up 0.80 percent year over year, and adjusted EBIT margin was 29.80 percent. Management kept its 2026 free-cash-flow outlook at EUR 1.35 billion to EUR 1.45 billion but reduced group revenue growth expectations to the mid- to high-single-digit range as air distribution bookings weakened.

Stock stays below yearly high

The primary BME listing's 52-week range was EUR 46.21 to EUR 69.30 as of October 7, 2026, placing the Lang & Schwarz price 24.40 percent below the high. Market capitalization was EUR 22.5 billion on the same date, while the first-half figures show that hospitality and Air IT solutions are offsetting pressure in air distribution.

Amadeus stock was trading at EUR 52.39 at Lang & Schwarz on October 7, 2026 at 10:02 a.m. CEST, plus 0.02 percent versus the prior close of EUR 52.38. The further course of trading is shown by the continuously updated real-time quote of Amadeus IT Group stock.