Redeye: Proact IT Group - Improvement measures paying off

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Redeye remains positive on Proact following a rebound in BU West and optimistic comments regarding April. We increase our EBITA forecasts for 2020 and 2021 by 23% and 5%. We find the current valuation of EV/EBITA 5.8x 2021E attractive and raise our Base case.

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