Media and Games Invest SE Rated "Buy" with Increased Price Target by First Berlin Equity Research

First Berlin Equity Research has updated their evaluation of Media and Games Invest SE (MGI), maintaining a "Buy" recommendation while raising the target price from €3.80 to €4.10. Analyst Ellis Acklin highlighted several key factors driving the firm's optimistic outlook. The quarterly report continues the positive trend seen in 2024, notably marking a record first quarter influenced by 21% year-over-year organic growth.

The partnership with Google has been pivotal, enabling MGI to enhance earnings growth and accelerate artificial intelligence initiatives. Management remains positive about the advertising market's recovery, supported by robust operational KPIs. Financial projections for FY24 suggest revenues could be between €350 million and €370 million, with AEBITDA expected to be in the range of €100 million to €110 million. This projection might be conservative if cost-per-mille (CPM) prices rebound and U.S. election ad spend surges, as anticipated.