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Redeye updates on EG7 following its Q1-results which were stronger than forecasted driven by continued strong performance from My Singing Monsters. The company gave a new guidance for 2023 which implies stronger growth but softer profitability than expected, owing largely to a reduced capitalization rate. On the back of this we reduce our EBITDA estimates slightly, however, cash flow estimates are increased and we also raise our valuation range.
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