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Stillfront: Redeye: Stillfront Group - Level up through live ops

Stillfront Group produced yet another record quarter; the main driver
was improved live operations which fueled the monetization. We view
the development as sustainable and raise our projections. We find
that the market is yet to appreciate the strong growth that lies
ahead; in our view, Stillfront is still to conservatively valued. We
raise our Base-case valuation by roughly 26%.

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