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Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 19
HOLD 9
SELL 0
STRONG
SELL
0
| PRICE TARGET: $244.78 DETAILS
HIGH: $270.00
LOW: $227.00
MEDIAN: $240.00
CONSENSUS: $244.78
UPSIDE: 26.91%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 40% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Overvalued Strong
Trading 62.4% above fair value
Current Price $192.88
Bear Case $95.04 50.7% downside ($95.04 - $192.88) / $192.88 = -50.7% $7.92 × 12x P/E
Fair Value $118.80 38.4% downside ($118.80 - $192.88) / $192.88 = -38.4% $7.92 × 15x P/E
Bull Case $142.56 26.1% downside ($142.56 - $192.88) / $192.88 = -26.1% $7.92 × 18x P/E

Adjust Assumptions

15.0x
7.92$

Key Value Driver

Normalized P/E multiple (15x base case)

Implied Market Multiple 24.4x

Plain-Language Summary

Applying a 15x P/E to adjusted EPS of $7.92, the base-case value is $118.80 per share. DDM cross-check: $30.08.

Analyst Consensus (External Reference)

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

Average Target (28 analysts) $244.78
Analyst Range $227.00 – $270.00
Divergence from AlphaVal 51%

Warnings

Dividend-based valuation: $30.08 (below our primary estimate by 75%). Large gaps may signal the dividend doesn't reflect full earning power.
Wall Street's average price target is $244.78 (from 28 analysts). Our estimate is 51% 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