{
  "id": 16912818,
  "title": "Técnicas Reunidas y Amadeus, entre los favoritos de GVC Gaesco",
  "url": "https://urgent.news/2026/10/28/tecnicas-reunidas-y-amadeus-entre-los-favoritos-de-gvc-gaesco",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-28T14:09:17.000Z",
  "source": {
    "name": "Expansion ES",
    "slug": "expansion-es",
    "url": "https://www.expansion.com/inversion/2026/10/28/tecnicas-reunidas-amadeus-favoritos-gvc-gaesco.html"
  },
  "original_language": "es",
  "account": "GVC Gaesco has updated its list of preferred investments, taking advantage of intrasectoral volatility and recent profit-taking in the markets to rotate portfolio holdings. Analysts highlight Técnicas Reunidas and Amadeus among the attractive Spanish stocks, and also adjust their favorites in Europe. Investment opportunities stemming from recent market corrections and profit-taking after 2026 stock rises motivate the changes in Spanish and European portfolios.\n\nTécnicas Reunidas and Amadeus join the list of favorites in Spain, offering an attractive entry point after their stock adjustments. Conversely, Naturgy and CAF exit the list following a strong performance in the past month. In the international portfolio, movements focus on the Italian financial sector and French industrial services, with FinecoBank and Elis replacing Azimut and Recordati.\n\nTécnicas Reunidas reenters the national selection due to an entry opportunity presented by its stock quote. The engineering company boasts a prominent position in designing and constructing industrial plants related to clean fuels, natural gas, and decarbonization solutions. Its growth strategy, centered around the SALTA strategic plan, includes the development of activities tied to renewable hydrogen, biofuels, and carbon capture, sectors that may benefit from investments aimed at transforming the energy model. One of its main attractions is the high visibility of its activity, backed by a 13.938 million euro order book and annual bidding forecasts exceeding 8,000 million euros. These factors provide a future income base and support its business prospects. Furthermore, the company maintains a normalized execution of projects despite geopolitical volatility in the Middle East. The second addition is Amadeus, whose stock has been penalized due to doubts about international air traffic growth and the potential impact of artificial intelligence (AI) on its business. The geopolitical context has led the market to revise downward expectations on global air traffic growth, while the development of new AI tools has fueled concerns about traditional tech companies' ability to maintain their competitive position. However, the investment thesis considers the stock's penalization excessive. The company possesses a global technological infrastructure serving the travel industry, which is deemed unlikely to be easily replaced by new AI solutions. Added to this is the resilience of its Air IT Solutions and Hospitality divisions, its leadership position in the sector, and its capacity for generating long-term cash flow. These factors bolster its appeal to investors seeking to capitalize on the stock correction. The exits of Naturgy and CAF stem from a different reason. Both companies have recorded excellent performance over the past month, reducing their relative revaluation potential in the short term compared to other investment alternatives. The rotation does not imply a deterioration of their fundamental prospects. The view on the energy sector remains favorable, as does the view on rail transportation. The decision to rotate portfolio holdings is thus a management decision aimed at identifying stocks with a greater immediate upside potential.",
  "summary": "GVC Gaesco ha actualizado su lista de valores preferidos para invertir, aprovechando la volatilidad intrasectorial y la reciente toma de beneficios en las bolsas para ejecutar una rotación estratégica de carteras. Los analistas incluyen a Técnicas Reunidas y Amadeus entre los valores españoles atractivos y también actualizan sus favoritos en Europa. Leer",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}