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Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
1
BUY 32
HOLD 33
SELL 2
STRONG
SELL
0
| PRICE TARGET: $117.68 DETAILS
HIGH: $145.00
LOW: $92.00
MEDIAN: $115.00
CONSENSUS: $117.68
UPSIDE: 11.42%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 80% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Overvalued Strong
Trading 52.1% above fair value
Current Price $105.62
Bear Case $60.76 42.5% downside ($60.76 - $105.62) / $105.62 = -42.5% $4.34 × 14x P/E
Fair Value $69.44 34.3% downside ($69.44 - $105.62) / $105.62 = -34.3% $4.34 × 16x P/E
Bull Case $78.12 26.0% downside ($78.12 - $105.62) / $105.62 = -26.0% $4.34 × 18x P/E

Adjust Assumptions

16.0x
4.34$

Key Value Driver

Normalized P/E multiple (16x base case)

Implied Market Multiple 24.3x

Plain-Language Summary

Applying a 16x P/E to adjusted EPS of $4.34, the base-case value is $69.44 per share. DDM cross-check: $525.21.

Analyst Consensus (External Reference)

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

Average Target (68 analysts) $117.68
Analyst Range $92.00 – $145.00
Divergence from AlphaVal 41%

Warnings

Dividend-based valuation: $525.21 (above our primary estimate by 656%). Large gaps may signal the dividend doesn't reflect full earning power.
Wall Street's average price target is $117.68 (from 68 analysts). Our estimate is 41% 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