Redeye: Mentice Q3 2024 - Soft Q3, we expect a seasonally strong Q4 2024e
Redeye updates its estimates and valuation following Mentice’s Q3 2024 report. The report broadly missed our expectations, though we expect a seasonally strong fourth quarter to enable Mentice to post y/y sales growth for 2024e. Further, we believe demand will improve in 2025e. We nudge down our estimates and valuation.
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