CTVA - Corteva, Inc.
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$88.17
DETAILS
HIGH:
$95.00
LOW:
$82.00
MEDIAN:
$88.00
CONSENSUS:
$88.17
UPSIDE:
10.69%
AlphaVal
Deterministic, archetype-aware fair value
Cyclical & Capital-Intensive
80% confidence
Primary model: Normalized Earnings × Cycle Multiple
Adjust Assumptions
9.5x
1.58$
Key Value Driver
Through-cycle normalized EPS ($1.58)
Implied Market Multiple
50.4x
Plain-Language Summary
Our base-case estimate uses Normalized Earnings × Cycle Multiple. We then blend that result with the average analyst price target of $88.17 from 37 analysts, using a 30% weight on analyst consensus. That produces an estimated intrinsic value of $39.00 per share.
Warnings
Price-to-book value of 9.9x 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 $88.17 (from 37 analysts). Our estimate is 80% 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