Citi sees increased AI disruption risks for Amadeus, cuts to "neutral"

Amadeus It SA

12/02/2026 08:56

** Citi cuts Amadeus AMA.MC to "neutral" from "buy", seeing AI disruption risks to reduce the growth horizon of the Spanish travel technology company

** AI might render some of services in Airline IT, Amadeus's most valuable business, less valuable, which could also apply to its Hotel IT modules, the broker says

** However, the broker believes Al assistants will still need access to a well-orchestrated travel ecosystem, as provided by Amadeus

** Citi forecasts Amadeus' 2025 EBITDA at 2.46 billion euros  ($2.92 billion), below consensus of 2.49 billion euros, and lowers its 2026 and 2027 EPS estimates by 4-5%

** Amadeus shares down 2.8% at 08:55 GMT

** Out of 25 analysts that cover Amadeus IT Group, 17 rate the stock "strong buy" or "buy", ​seven rate "hold" and one rates the stock "sell" - LSEG data

($1 = 0.8423 euros)

 (Reporting by Joao Manuel Mauricio)

 ((JoaoManuel.VicenteMauricio@thomsonreuters.com))