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Addnode: Soft Design Management Hurts Q2 - Redeye

Redeye believes the sharp share price decline constitutes an attractive opportunity for the long-term investor despite lowering its Base Case. While lowering our EBIT forecasts for 2023 and 2024 by 29% and 23%, we believe the long-term case in Addnode is intact. Addnode is now trading below our Base Case, which is rare from a historical perspective.

Redeye believes the sharp share price decline constitutes an attractive opportunity for the long-term investor despite lowering its Base Case. While lowering our EBIT forecasts for 2023 and 2024 by 29% and 23%, we believe the long-term case in Addnode is intact. Addnode is now trading below our Base Case, which is rare from a historical perspective.
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