HSBC had remained cautious with Amadeus, until now. For the first time since the summer of 2020, the investment side changes its sign from holding the company’s shares to buying. And it does so, furthermore, considerably increasing its valuation for the company’s securities.
The analysis team has gone from valuing the tourist company’s shares at 70 euros to now seeing them at 82 euros by the end of 2025. This means increasing its valuation by 17% and seeing, for the first time, Amadeus above the levels at which it was trading before the outbreak of the pandemic, at 73.32 euros. Valuing the company at this price also implies seeing a potential return on its shares of 19% this year.
With this target price, HSBC becomes one of the analysis firms currently showing the most optimism with Amadeus on the stock market. Only three are above its valuation: Jefferies (85 euros), Oddo (84 euros) and BNP Paribas (83 euros).
The average target price of all investment banks reaches 74.26 euros per share, also above Covid-crash levels, which leaves an upward potential for the following months of 8%. 50% of these experts advise taking positions in the firm’s price.
“Its objective is to continue leading the connectivity of the entire ecosystem of the travel sector and is directing its investments to adapt to the market changes and develop the technology of the future based on its two main strengths: knowledge of the market and its technological leadership. We trust in Amadeus’ ability to continue developing differential solutions that cover the travel process from start to finish and improving the customer experience,” they argue from Renta 4, as the company’s investment thesis.
The change in HSBC’s recommendation has encouraged investors and Amadeus has established itself as one of the most bullish firms on the Ibex 35 this day, with a rise that is close to 2%. In the few sessions accumulated in 2025, the balance of the tourism company is slightly positive, with an advance of 0.9%.
Since the beginning of the century, 52% of Januarys have been bearish for Amadeus and, on average, the firm has lost 0.4% this month. With this start of the year, it breaks with this statistic and, in addition, it chains, for the moment, the last three Januarys in positive. Since 2023, tourist stocks have not stopped flying on the stock market: in 2023 they advanced 33.6% and closed 2024 with a rise of 5.1%.
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