Ad Pepper Media International: Buy Recommendation Reaffirmed by First Berlin Equity Research

First Berlin Equity Research has reaffirmed its "Buy" recommendation for ad pepper media International N.V., maintaining a target price of EUR 2.90. Analyst Dr. Karsten von Blumenthal highlights the company's stable financial performance in Q3 2024, with revenues holding steady at EUR 5.2 million. EBITDA saw a notable increase from EUR 101k to EUR 485k year-over-year, and the company achieved a net income of EUR 178k. For Q4, ad pepper media forecasts stable revenues of approximately EUR 6.0 million, with an expected rise in EBITDA to EUR 739k.

Looking ahead to 2025, the company anticipates a 5% revenue growth and an EBITDA margin increase to 9.9%, driven by improving macroeconomic conditions in its primary markets. The updated discounted cash flow model continues to support the current price target. The research update underscores the company's positive trajectory and affirms the recommendation to buy.