Amadeus It Group S.A.: 1 director

A director at Amadeus It Group S.A. sold 8,159 shares at 74.800EUR and the significance rating of the trade was 95/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of...

Moody's Ratings announces completion of a periodic review of ratings of Amadeus IT Group S.A.

Moody's Ratings (Moody's) has completed a periodic review of the ratings of Amadeus IT Group S.A. and other ratings that are associated with this issuer. The review was conducted through a rating committee held on 12 March 2025 in which we reassessed the appropriateness of the ratings in the contex...

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/03/2025

Polish Telecoms: Subscription model rules

The outbreak of the Coronavirus has forced many countries to take unprecedented steps like keeping people at home for two weeks or more. Such a widespread halt of human, consumer and business activity will obviously have a negative impact on economies and companies but due to the uniqueness of the situation and the uncertainty of where and how long it will go on, it is also very hard to predict the scale of impact on companies’ P&Ls. Polish telcos are one of the sectors that have experienced a sell off but should not feel an overly negative hit for the following reasons: First, a subscriptio...

Asseco Poland: Trust is good but control is better

We keep ACP as a NEUTRAL but lift our FV to PLN 63.2 (from PLN 59.9) as we have added potential synergies from close co-operation with CPS (CPS PW, BUY, PLN 28.5, FV PLN 32) as we expect the tender to end successfully. In our view, the main rationale of the deal for CPS is control of a trusted external IT provider that would predominantly focus on finishing the billing system. The protracted billing contract with Huawei and finally its cancellation was in our view the main reason why CPS approached ACP, which has the important advantage of being Huawei’s sub-contractor and likely understands...

Cyfrowy Polsat: Good KPI momentum

We keep CPS at a BUY and lift our FV to PLN 32 (from PLN 29) on the back of positive KPI and an announced price lift, which should have positive effect on its ARPU and EBITDA in the long term. Thus, we lifted our 20E/21E EBITDA forecasts by 3%/3%. CPS’ long-term fundamental investment story is still the most attractive among the Polish telcos we cover thanks to CPS’ attractive services value chain. CPS’ story remains unchanged with a focus on product bundling through flagship product SmartDOM, which has a positive ARPU impact and reduces churn. Its just announced decision to join rest of...