Is the word pico the same in Brazilian and European Portuguese?

No

While "pico" shares the same primary meanings in both dialects—referring to a mountain summit, a peak in a graph, or a sudden spike in intensity—there is a difference in typical usage. In Brazil, "pico" is frequently used in informal speech as a synonym for a "place," "spot," or "location" (e.g., um pico legal). In Portugal, using "pico" to refer to a location is not standard and would likely be misunderstood as referring to a mountain peak; instead, a Portuguese person would naturally use "lugar," "local," or "sítio."

Brazilian Portuguese

1. O pico da montanha é muito alto. (The mountain peak is very high.)
2. Houve um pico de casos de gripe. (There was a spike in flu cases.)
3. Este café é um pico muito legal. (This café is a very cool spot.)
4. O preço atingiu o seu pico. (The price reached its peak.)
5. Procuro um pico tranquilo para ler. (I am looking for a quiet spot to read.)

Continental Portuguese

1. O pico da montanha é muito alto. (The mountain peak is very high.)
2. Houve um pico de casos de gripe. (There was a spike in flu cases.)
3. Este café é um lugar muito fixe. (This café is a very cool place.)
4. O preço atingiu o seu pico. (The price reached its peak.)
5. Procuro um sítio tranquilo para ler. (I am looking for a quiet place to read.)