Howard Hughes Holdings Inc. logo HHH - Howard Hughes Holdings Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 4
HOLD 1
SELL 0
STRONG
SELL
0
| PRICE TARGET: $87.50 DETAILS
HIGH: $95.00
LOW: $80.00
MEDIAN: $87.50
CONSENSUS: $87.50
UPSIDE: 37.38%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 60% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Overvalued Strong
Trading 48.7% above fair value
Current Price $63.69
Bear Case $34.26 46.2% downside ($34.26 - $63.69) / $63.69 = -46.2% $2.11 × 12x P/E
Fair Value $42.82 32.8% downside ($42.82 - $63.69) / $63.69 = -32.8% $2.11 × 15x P/E
Bull Case $51.38 19.3% downside ($51.38 - $63.69) / $63.69 = -19.3% $2.11 × 18x P/E

Adjust Assumptions

15.0x
2.11$

Key Value Driver

Normalized P/E multiple (15x base case)

Implied Market Multiple 30.2x

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 $87.50 from 5 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $42.82 per share.

Warnings

The company pays out 169% of its profits as dividends. That leaves little cushion — the dividend could be cut if business slows down.
Wall Street's average price target is $87.50 (from 5 analysts). Our estimate is 64% 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