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Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 6
HOLD 2
SELL 2
STRONG
SELL
0
| PRICE TARGET: $45.00 DETAILS
HIGH: $46.00
LOW: $43.00
MEDIAN: $46.00
CONSENSUS: $45.00
UPSIDE: 21.23%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 85% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Fair Value Moderate
Trading 24.9% below fair value
Current Price $37.12
Bear Case $43.26 16.5% upside ($43.26 - $37.12) / $37.12 = 16.5% $3.09 × 14x P/E
Fair Value $49.44 33.2% upside ($49.44 - $37.12) / $37.12 = 33.2% $3.09 × 16x P/E
Bull Case $55.62 49.8% upside ($55.62 - $37.12) / $37.12 = 49.8% $3.09 × 18x P/E

Adjust Assumptions

16.0x
3.09$

Key Value Driver

Normalized P/E multiple (16x base case)

Implied Market Multiple 12.0x

Plain-Language Summary

Applying a 16x P/E to adjusted EPS of $3.09, the base-case value is $49.44 per share. DDM cross-check: $22.48.

Analyst Consensus (External Reference)

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

Average Target (10 analysts) $45.00
Analyst Range $43.00 – $46.00
Divergence from AlphaVal 10%

Warnings

ℹ Dividend-based valuation: $22.48 (below our primary estimate by 55%). 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