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Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 8
HOLD 9
SELL 1
STRONG
SELL
0
| PRICE TARGET: $111.75 DETAILS
HIGH: $137.00
LOW: $95.00
MEDIAN: $107.50
CONSENSUS: $111.75
DOWNSIDE: 11.28%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Platform & Compounding FCF 50% confidence

Primary model: Two-stage FCF DCF

Valuation Signal Fair Value Mild
Trading 10.3% below fair value
Current Price $125.96
Bear Case $140.44 11.5% upside ($140.44 - $125.96) / $125.96 = 11.5% 3% stage 1 growth, 11% discount
Fair Value $140.44 11.5% upside ($140.44 - $125.96) / $125.96 = 11.5% 3% stage 1 growth, 11% discount
Bull Case $153.95 22.2% upside ($153.95 - $125.96) / $125.96 = 22.2% 4% stage 1 growth, 11% discount

Adjust Assumptions

3.0%
11.0%
3.0%

Key Value Driver

FCF growth rate (3% base case)

Terminal Value % of EV 33%
Implied Market Multiple 11.9x
Market is pricing in (growth) 2.0% vs our 3.0% base

Plain-Language Summary

Using a two-stage FCF DCF with 3% growth decelerating over 15 years, discounted at 11%, the base-case intrinsic value is $140.44 per share.

Analyst Consensus (External Reference)

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

Average Target (18 analysts) $111.75
Analyst Range $95.00 – $137.00
Divergence from AlphaVal 26%

Warnings

Wall Street's average price target is $111.75 (from 18 analysts). Our estimate is 26% above the consensus -- consider that gap carefully.

Key Risks

  • P/E alone misleads — earnings depressed by growth investment
  • Cyclical or commodity businesses may be misclassified as platforms
  • Terminal value dominance suggests sensitivity to long-run assumptions