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Learn/Valuation and price targets
LearnValuation and price targets

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B Basic

  • The multiples research uses9m
  • Choosing comps and justifying a multiplePro10m
  • The DCF in a research modelPro10m

A Advanced

  • Setting the twelve month targetPro9m
  • Bull, base, bear, and the skewPro9m
  • Sum of the parts and holding company discountsPro9m
  • Reverse DCF: what is priced inPro8m
  • Special cases: banks, REITs, growth, cyclicalsPro11m
  • FlashcardsPro0/17
  • Basic quizPro80% passes
  • Advanced quizPro80% passes
  • Terms

Sum of the parts and holding company discounts

When segments have different economics, value each on its own multiple, subtract what sits at the center, and decide whether the whole deserves a discount.

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