J.P. Morgan Europe First to Market: Amadeus Overweight Thesis, SFDR Fund Trends & European Equities Update

J.P. Morgan's European daily morning research note reiterates an Overweight rating on Amadeus citing operating leverage and above-consensus EPS growth through 2028. It also highlights YTD outperformance in SFDR Article 9 funds and summarizes key corporate events, earnings schedules, and rating changes.

Key Takeaways

• 1.J.P. Morgan reiterates its Overweight rating on Amadeus, forecasting re-accelerating revenue growth in 2027 and faster-than-consensus margin expansion driving a low-teens adjusted EPS CAGR through 2028.
• 2.SFDR Article 9 equity funds are outperforming YTD in EMEA sustainable investing, marking a reversal versus 3-year and 5-year trends despite Article 6 absorbing the vast majority of YTD fund inflows ($262bn).
• 3.Key rating and price target updates across European equities include price target raises for Air Liquide (to €162.00) and Bunzl (to 2,800p), alongside model and estimate adjustments for Sainsbury, Flughafen Zurich, and Hemnet.

Table of Contents

• Today's Morning Meeting
• Also Published Today
• In Case You Missed It... Trending in the Last Month
• Key Changes
• JPM Events
• Upcoming Earnings

Report data

Price Target Changes

Reports in this series

Europe First to Market is shown in chronological order through this edition, published on September 2, 2026.

Part of the Europe First to Market series — view all 40 editions

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