Cohen & Steers, Inc. logo CNS - Cohen & Steers, Inc.

Price: -- -- | CONSENSUS: Sell DETAILS
STRONG
BUY 0
BUY 4
HOLD 4
SELL 5
STRONG
SELL 0
| PRICE TARGET: $76.00 DETAILS
HIGH: $76.00
LOW: $76.00
MEDIAN: $76.00
CONSENSUS: $76.00
UPSIDE: 5.79%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Banks, Insurers & Asset Managers 85% confidence

Primary model: P/Tangible Book × ROE Quality

Valuation Signal Fair Value Mild
Trading 6.9% below fair value
Current Price $71.84
Bear Case $54.03 24.8% downside ($54.03 - $71.84) / $71.84 = -24.8% ROTCE 20.0% → 2.21x TBV
Fair Value $77.18 7.4% upside ($77.18 - $71.84) / $71.84 = 7.4% ROTCE 25.0% → 3.35x TBV
Bull Case $100.34 39.7% upside ($100.34 - $71.84) / $71.84 = 39.7% ROTCE 30.0% → 3.59x TBV

Adjust Assumptions

28.3%
11.2%

Key Value Driver

ROTCE (28.3%) vs. cost of equity (11.2%)

Implied Market Multiple 6.81x

Plain-Language Summary

Our base-case estimate uses P/Tangible Book × ROE Quality. We then blend that result with the average analyst price target of $76.00 from 13 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $77.18 per share.

Warnings

⚠ Traditional cash flow models don't work well for banks — lending activity distorts how much cash the business actually generates.
⚠ Common valuation shortcuts don't apply here — for banks, interest payments are a core business cost, not overhead.

Key Risks

  • Book value quality matters as much as level — check loan loss reserves
  • Interest rate sensitivity creates non-linear earnings surprises
  • Insurance reserving is actuarial, not financial — errors emerge slowly