Redeye: Smart Eye - Expected but irrational drop

Redeye lower near-term estimates for Smart Eye but leave the valuation unchanged. Moreover, the company’s strong business model and growing backlog of orders for new car OEMs make us convinced about the merits of the case, and we have actually raised our longer term estimates somewhat. It follows that we disagree with the market’s admittedly not unexpected knee-jerk reaction to the China situation.

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