TFX
Teleflex Incorporated
$140.97
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Moderate
·
Conviction
Overvalued
Trading 24.8% above fair value
You pay
$140.97
Bear
$90.36
Fair
$112.95
Bull
$135.54
Bear
$90.36
-35.9%
$7.53 × 12x P/E
Fair
$112.95
-19.9%
$7.53 × 15x P/E
Bull
$135.54
-3.9%
$7.53 × 18x P/E
Adjust Assumptions
15.0x
7.53$
Key Value Driver
Normalized P/E multiple (15x base case)
Implied Market Multiple
18.7x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (29 analysts)
$155.25
Divergence from AlphaVal
27%
Summary
Applying a 15x P/E to adjusted EPS of $7.53, the base-case value is $112.95 per share.
Warnings
Wall Street's average price target is $155.25 (from 29 analysts). Our estimate is 27% below the consensus -- consider that gap carefully.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples