First Berlin Reaffirms Buy on ad pepper media, Keeps EUR 5 Price Target

• First Berlin Equity Research reiterated Buy on ad pepper media on Oct. 20, 2026, retaining its EUR 5 price target.
• The target implies 87% upside; the analyst maintained a 2026 EBITDA forecast of EUR 7.5 million.
• Preliminary third-quarter revenue rose 17% year over year, while EBITDA increased 15%.
• Price-comparison business solute drove performance, while affiliate-marketing segment Webgains fell short of the research firm's expectations.
• Management reaffirmed EBITDA guidance of EUR 6.5 million–EUR 7.5 million, expecting results in the range's upper half.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ad pepper media International NV published the original content used to generate this news brief via EQS News (Ref. ID: rc_27126) on October 20, 2026, and is solely responsible for the information contained therein.