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Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 8
HOLD 9
SELL 4
STRONG
SELL
0
| PRICE TARGET: $62.00 DETAILS
HIGH: $64.00
LOW: $59.00
MEDIAN: $63.00
CONSENSUS: $62.00
UPSIDE: 27.21%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 65% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Fair Value Moderate
Trading 18.4% below fair value
Current Price $48.74
Bear Case $47.76 2.0% downside ($47.76 - $48.74) / $48.74 = -2.0% $3.98 × 12x P/E
Fair Value $59.70 22.5% upside ($59.70 - $48.74) / $48.74 = 22.5% $3.98 × 15x P/E
Bull Case $71.64 47.0% upside ($71.64 - $48.74) / $48.74 = 47.0% $3.98 × 18x P/E

Adjust Assumptions

15.0x
3.98$

Key Value Driver

Normalized P/E multiple (15x base case)

Implied Market Multiple 12.2x

Plain-Language Summary

Applying a 15x P/E to adjusted EPS of $3.98, the base-case value is $59.70 per share. DDM cross-check: $40.86.

Analyst Consensus (External Reference)

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

Average Target (21 analysts) $62.00
Analyst Range $59.00 – $64.00
Divergence from AlphaVal 4%

Warnings

ℹ Dividend-based valuation: $40.86 (below our primary estimate by 32%). Large gaps may signal the dividend doesn't reflect full earning power.

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