Redeye updates its estimates for the Q2 2024 report (due 2024-07-18). Redeye makes minor estimate changes for Q2. As such, Redeye expects continued organic growth (total +1% y/y but +5% for Network and Security), combined with sound profitability (SEK64m EBITDA) and cash generation (SEK42m EBITDA-CAPEX). Resulting from strong profitability despite market headwinds in the last year, Redeye lifts its long-term profitability estimates. While the stock has performed well since the Q1 report, Redeye continues to see good upside as it raises its fair value range.
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