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Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
1
BUY 33
HOLD 33
SELL 2
STRONG
SELL
0
| PRICE TARGET: $117.89 DETAILS
HIGH: $145.00
LOW: $91.00
MEDIAN: $115.00
CONSENSUS: $117.89
DOWNSIDE: 4.08%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 80% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Overvalued Strong
Trading 77.0% above fair value
Current Price $122.91
Bear Case $60.76 50.6% downside ($60.76 - $122.91) / $122.91 = -50.6% $4.34 × 14x P/E
Fair Value $69.44 43.5% downside ($69.44 - $122.91) / $122.91 = -43.5% $4.34 × 16x P/E
Bull Case $78.12 36.4% downside ($78.12 - $122.91) / $122.91 = -36.4% $4.34 × 18x P/E

Adjust Assumptions

16.0x
4.34$

Key Value Driver

Normalized P/E multiple (16x base case)

Implied Market Multiple 28.3x

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 (69 analysts) $117.89
Analyst Range $91.00 – $145.00
Divergence from AlphaVal 41%

Warnings

ℹ Dividend-based valuation: $525.21 (above our primary estimate by 656%). Large gaps may signal the dividend doesn't reflect full earning power.
ℹ Wall Street's average price target is $117.89 (from 69 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