Jefferies lifts price targets for Arcadis and Amadeus

Jefferies raised its target price for Dutch engineering firm Arcadis NV to €55 per share, up from €48, citing strong second‑quarter 2026 results, a 2 % rise in EBITA to €111 million and a record order book of nearly €4 billion. The broker kept its buy recommendation and highlighted the company's strategic shift toward transport, water, energy and high‑tech markets, while noting ongoing takeover interest, including a rejected €51.50 per‑share offer from rival WSP.

The same analyst house also increased its target for Spanish travel‑technology group Amadeus IT to €65 per share, up from €60, implying a potential upside of about 22 % from the recent close. Jefferies pointed to a 2.2 % constant‑currency revenue growth to €1.65 billion in the second quarter, an EBITDA of €673 million and improved margins, despite a slower first‑quarter performance caused by Middle‑East disruptions. The firm maintained its buy rating, emphasizing cost discipline and a gradual recovery in air‑traffic volumes.