Ad pepper media International N.V. Receives "Buy" Rating from First Berlin Equity Research

First Berlin Equity Research published an updated report on ad pepper media International N.V., reaffirming their "Buy" recommendation and increasing the target price from EUR 2.80 to EUR 2.90. Analyst Dr. Karsten von Blumenthal cited the company's strategic progress and cost-saving measures as key factors influencing the revised target.

According to Dr. von Blumenthal, ad pepper media faced challenges in 2023 with a 13% decline in revenue year-on-year and break-even EBITDA compared to €1.3 million in 2022. Despite these difficulties, the company made significant strides by acquiring a 26% stake in solute, a price comparison portal operator. This move is part of a broader strategy to strengthen the company’s position in the market.

Looking ahead to 2024, the report remains cautiously optimistic due to early signs of recovery in advertising demand and a gradual macroeconomic improvement expected in key markets such as the UK and Germany. The analyst predicts a potential increase in EBITDA to approximately €1.1 million, supported by an initial positive EBITDA in Q1 2024.