Amadeus IT shares gained 2.7% on Friday after the travel technology group reported fourth-quarter results exceeding market expectations. Revenue reached €1.62 billion, 1% above consensus, with constant-currency growth of 10%. Adjusted EBITDA came in at €578 million, 3% ahead of estimates, while free cash flow excluding M&A hit €368 million, 13% above forecasts.

The company issued broadly in-line guidance for 2026, projecting high single-digit constant-currency revenue growth and stable adjusted EBIT margins around 29%. Amadeus targets high single-digit revenue CAGR through 2028, a view Morgan Stanley analysts described as "broadly ahead of Street," suggesting potential mid-single-digit upside for the stock.

Amadeus' board approved a €500 million share buyback as the shares continue their downward trend. The stock has fallen approximately 9% since early February and 18% year to date, presenting a potential buying opportunity for investors who believe in the company's long-term growth prospects despite recent underperformance.