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Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 12
HOLD 18
SELL 5
STRONG
SELL
0
| PRICE TARGET: $39.55 DETAILS
HIGH: $51.00
LOW: $27.00
MEDIAN: $39.00
CONSENSUS: $39.55
UPSIDE: 9.83%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 40% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Fair Value Moderate
Trading 21.9% below fair value
Current Price $36.01
Bear Case $36.89 2.4% upside ($36.89 - $36.01) / $36.01 = 2.4% $3.26 × 12x P/E
Fair Value $46.12 28.1% upside ($46.12 - $36.01) / $36.01 = 28.1% $3.26 × 15x P/E
Bull Case $55.34 53.7% upside ($55.34 - $36.01) / $36.01 = 53.7% $3.26 × 18x P/E

Adjust Assumptions

15.0x
3.26$

Key Value Driver

Normalized P/E multiple (15x base case)

Implied Market Multiple 11.0x

Plain-Language Summary

Our base-case estimate uses a valuation based on adjusted earnings per share and a normalized price-to-earnings multiple. We then blend that result with the average analyst price target of $39.55 from 35 analysts, using a 30% weight on analyst consensus. That produces an estimated intrinsic value of $46.12 per share.

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