With summer around draw the blindThe sessions that accumulate in September are the best time for tourism sector stocks on the stock market. In the Spanish market, although IAG is the leader and undisputed protagonist of this month, it is not alone in its rise and, thanks to the latest increases, Amadeus shares managed to return to positive territory during the year.
Concretely, the company is currently appreciating by a slight 0.2% in 2024, after the increase that its shares experienced this Tuesday, of a little more than 2%, the best trading day for its share price since the beginning of July. Now, its price exceeds 65 euros per share again and It is at the levels of last June, less than 5% of the current highs of the year, which are at 68 euros.
The falls that shook the stock markets in August (when the drums of recession sounded again) also impacted their behavior and, during the month, the tourism company collapsed below the 55 euro mark. From these lows, Amadeus manages to rebound by about 17%. Only about 7% have done so so far in September (it is one of the most optimistic companies on the Ibex 35 of the month), in what would be its most bullish month since last May (when it ended the month with gains of more than 9%).
Analysts do not believe that its rise in the stock market has yet been stopped and estimate that in the coming months they could revalue up to 10% more to reach 71.36 euros per share which sets the indicative price. This valuation would bring the Amadeus share price very close to those recorded before the outbreak of the pandemic, around 73 euros. More than 50% of the analysts who cover the stock advise buying its shares. In The League of Ibex (the combination that makes elEconomista.es with the averages of the recommendations of Bloomberg and FactSet) ranks number 15 among the best recommendations in the Ibex 35, its best position in the tool in two months.
At the end of July, the company presented its results for the first half of the year, which also reflect the positive development of its business. After having returned in 2023, in its main parameters, to the levels before the outbreak of Covid-19, in the first half of this year, profits reached 650 million euros, which is not only an improvement of up to 20% on the figure for the same period of the previous year, but its best half-year in its entire history. For the whole of 2024, experts’ estimates also predict a historic year with a net profit of almost 1,240 million euros..
