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Redeye states Enea’s Q3 report was somewhat better than expected on top line and that profitability rebounded from recent quarters more than expected. However, EBIT margin is still below Enea’s historical average. Enea reiterates that it likely won’t reach its 20% EBIT margin target this year, which is no surprise. Redeye will make small upward changes in its estimates but likely maintain its valuation range.
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