CTVA - Corteva, Inc.
Price:
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$92.00
DETAILS
HIGH:
$103.00
LOW:
$86.00
MEDIAN:
$90.50
CONSENSUS:
$92.00
UPSIDE:
3.08%
AlphaVal
Deterministic, archetype-aware fair value
Cyclical & Capital-Intensive
80% confidence
Primary model: Normalized Earnings × Cycle Multiple
Adjust Assumptions
9.5x
1.58$
Key Value Driver
Through-cycle normalized EPS ($1.58)
Implied Market Multiple
56.5x
Plain-Language Summary
Our base-case estimate uses Normalized Earnings × Cycle Multiple. We then blend that result with the average analyst price target of $92.00 from 37 analysts, using a 30% weight on analyst consensus. That produces an estimated intrinsic value of $40.15 per share.
Warnings
Price-to-book value of 11.1x is above the normal range for this type of business (0.7x-2.0x). The stock may already price in a strong cycle.
Wall Street's average price target is $92.00 (from 37 analysts). Our estimate is 81% below the consensus -- consider that gap carefully.
Key Risks
- Standard 10-year DCF produces unreliable terminal values for cyclicals
- 'Cheap' P/E at cycle peak is the most common value trap — normalize first
- Captive finance subsidiaries have different risk profiles from manufacturing