Creepy Jar S.A. – Analytical Report

The faster-than-expected trajectory in the number of players after the release of StarRupture prompted us to lower the expected sales volume of the game to 1.5 million copies in 2026. Despite the increase in the forecast of revenues from Green Hell, we lowered this year's EBITDA forecast by 24% to PLN 62 million, and the target price of shares in the 12M horizon from PLN 802 to PLN 616. Therefore, at the current rate, we maintain the HOLD recommendation.