First Berlin Equity Research has published a research update on Verve Group SE (ISIN: SE0018538068). Analyst Ellis Acklin reiterated his BUY rating and increased the price target from EUR 4.10 to EUR 4.90.

Abstract
The recently rebranded Verve Group SE dusted off its M&A tool belt with the strategic acquisition of Jun Group, a US based digital media company. Verve has been patiently monitoring the markets for an opportunity to boost its ad software platform that was heavily weighted to the supply-side. We think Verve found the right deal at an excellent price that will invigorate its demand-side business, boost financials, strengthen the balance sheet, and provide direct access to coveted Fortune 500 brands, while also expanding its AI toolbox and data trove. We have recalibrated our forecasts to account for the accretive deal that more than offsets the dilution from the associated cap hike. Our TP moves to €4.9 (old: €4.1). We remain
Buy-rated on Verve.