Ingredion Incorporated logo INGR - Ingredion Incorporated

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 9
HOLD 11
SELL 1
STRONG
SELL
0
| PRICE TARGET: $117.00 DETAILS
HIGH: $120.00
LOW: $114.00
MEDIAN: $117.00
CONSENSUS: $117.00
UPSIDE: 14.25%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 80% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Undervalued Strong
Trading 46.4% below fair value
Current Price $102.41
Bear Case $157.45 53.7% upside ($157.45 - $102.41) / $102.41 = 53.7% $12.70 × 14x P/E
Fair Value $191.18 86.7% upside ($191.18 - $102.41) / $102.41 = 86.7% $12.70 × 17x P/E
Bull Case $224.92 119.6% upside ($224.92 - $102.41) / $102.41 = 119.6% $12.70 × 20x P/E

Adjust Assumptions

17.0x
12.7$

Key Value Driver

Normalized P/E multiple (17x base case)

Implied Market Multiple 8.1x

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 $117.00 from 21 analysts, using a 25% weight on analyst consensus. That produces an estimated intrinsic value of $191.18 per share.

Warnings

Dividend-based valuation: $105.93 (below our primary estimate by 51%). Large gaps may signal the dividend doesn't reflect full earning power.
Wall Street's average price target is $117.00 (from 21 analysts). Our estimate is 85% above 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