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Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 27
HOLD 17
SELL 2
STRONG
SELL
0
| PRICE TARGET: $51.06 DETAILS
HIGH: $60.00
LOW: $32.00
MEDIAN: $53.00
CONSENSUS: $51.06
UPSIDE: 3.34%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 65% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Overvalued Strong
Trading 113.9% above fair value
Current Price $49.41
Bear Case $18.48 62.6% downside ($18.48 - $49.41) / $49.41 = -62.6% $1.54 × 12x P/E
Fair Value $23.10 53.2% downside ($23.10 - $49.41) / $49.41 = -53.2% $1.54 × 15x P/E
Bull Case $27.72 43.9% downside ($27.72 - $49.41) / $49.41 = -43.9% $1.54 × 18x P/E

Adjust Assumptions

15.0x
1.54$

Key Value Driver

Normalized P/E multiple (15x base case)

Implied Market Multiple 32.1x

Plain-Language Summary

Applying a 15x P/E to adjusted EPS of $1.54, the base-case value is $23.10 per share. DDM cross-check: $56.20.

Analyst Consensus (External Reference)

Never blended into the bear/base/bull estimates above -- shown only as an outside comparison.

Average Target (46 analysts) $51.06
Analyst Range $32.00 – $60.00
Divergence from AlphaVal 55%

Warnings

Dividend-based valuation: $56.20 (above our primary estimate by 143%). Large gaps may signal the dividend doesn't reflect full earning power.
Wall Street's average price target is $51.06 (from 46 analysts). Our estimate is 55% 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