Equity valuation : Eurocash Group
Autor(a) principal: | |
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Data de Publicação: | 2015 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.14/18246 |
Resumo: | Equity valuation is an extremely complex and subjective process, it depends not only on the theoretical models but also on the analysis and assumptions used by the analyst. This thesis focuses on the valuation of Eurocash Group, a leading wholesale distributor of fast moving consumer goods (FMCG) in Poland. In order to present stronger conclusions we decided to use two different models: the discounted cash-flow (DCF) model and the multiples method as a complement. The combination of both lead us to a price target of roundly PLN 35,42 while shares were trading at PLN 32,96 (02/03/2015), so our recommendation was to buy. Our valuation was compared with the equity research from Wood & Company, “a leading independent investment bank in central and Eastern Europe”. The research team used also the DCF model and the multiples method to perform the valuation and reach out a price target of PLN 39 while shares were trading at PLN 32,2 (04/11/2014), so their recommendation was also to buy. |
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Equity valuation : Eurocash GroupEquity valuation is an extremely complex and subjective process, it depends not only on the theoretical models but also on the analysis and assumptions used by the analyst. This thesis focuses on the valuation of Eurocash Group, a leading wholesale distributor of fast moving consumer goods (FMCG) in Poland. In order to present stronger conclusions we decided to use two different models: the discounted cash-flow (DCF) model and the multiples method as a complement. The combination of both lead us to a price target of roundly PLN 35,42 while shares were trading at PLN 32,96 (02/03/2015), so our recommendation was to buy. Our valuation was compared with the equity research from Wood & Company, “a leading independent investment bank in central and Eastern Europe”. The research team used also the DCF model and the multiples method to perform the valuation and reach out a price target of PLN 39 while shares were trading at PLN 32,2 (04/11/2014), so their recommendation was also to buy.Martins, José Carlos TudelaVeritati - Repositório Institucional da Universidade Católica PortuguesaBranco, Ana Isabel Antunes de Azevedo2015-09-15T13:43:30Z2015-07-0620152015-07-06T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.14/18246TID:201169878enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-02-06T01:35:09Zoai:repositorio.ucp.pt:10400.14/18246Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:15:14.566443Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Equity valuation : Eurocash Group |
title |
Equity valuation : Eurocash Group |
spellingShingle |
Equity valuation : Eurocash Group Branco, Ana Isabel Antunes de Azevedo |
title_short |
Equity valuation : Eurocash Group |
title_full |
Equity valuation : Eurocash Group |
title_fullStr |
Equity valuation : Eurocash Group |
title_full_unstemmed |
Equity valuation : Eurocash Group |
title_sort |
Equity valuation : Eurocash Group |
author |
Branco, Ana Isabel Antunes de Azevedo |
author_facet |
Branco, Ana Isabel Antunes de Azevedo |
author_role |
author |
dc.contributor.none.fl_str_mv |
Martins, José Carlos Tudela Veritati - Repositório Institucional da Universidade Católica Portuguesa |
dc.contributor.author.fl_str_mv |
Branco, Ana Isabel Antunes de Azevedo |
description |
Equity valuation is an extremely complex and subjective process, it depends not only on the theoretical models but also on the analysis and assumptions used by the analyst. This thesis focuses on the valuation of Eurocash Group, a leading wholesale distributor of fast moving consumer goods (FMCG) in Poland. In order to present stronger conclusions we decided to use two different models: the discounted cash-flow (DCF) model and the multiples method as a complement. The combination of both lead us to a price target of roundly PLN 35,42 while shares were trading at PLN 32,96 (02/03/2015), so our recommendation was to buy. Our valuation was compared with the equity research from Wood & Company, “a leading independent investment bank in central and Eastern Europe”. The research team used also the DCF model and the multiples method to perform the valuation and reach out a price target of PLN 39 while shares were trading at PLN 32,2 (04/11/2014), so their recommendation was also to buy. |
publishDate |
2015 |
dc.date.none.fl_str_mv |
2015-09-15T13:43:30Z 2015-07-06 2015 2015-07-06T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
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masterThesis |
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publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.14/18246 TID:201169878 |
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http://hdl.handle.net/10400.14/18246 |
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TID:201169878 |
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eng |
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eng |
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openAccess |
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application/pdf |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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