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Equity research - Dassault Aviation
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Resumo(s)
O presente estudo contém uma avaliação detalhada da empresa francesa Dassault Aviation SA. Esta avaliação segue as normas de projeto final de mestrado bem como o formato recomendado pelo CFA Institute.
O preço-alvo foi calculado com base em métodos de avaliação absolutos como o Discounted Cash Flow method (DCF). Adicionalmente foram realizadas avaliações relativas e análises de sensibilidade por forma a complementar e dar suporte à avaliação. Os pressupostos considerados no decorrer da avaliação resultam de uma abrangente análise dos relatórios anuais da empresa, dados macroeconómicos e tendências da indústria aeroespacial, com recurso a várias fontes.
A recomendação final é de BUY, tendo em conta o price target calculado de 1422.15 EUR para 2021YE, representando um ganho potencial de 46.07% quando comparado com o preço de fecho 767 EUR a 6 de Novembro 2020, data que representa o fim do presente estudo.
The present study presents include a detailed valuation of the French aerospace company Dassault Aviation SA. It was elaborated following the ISEG Master Final Project rules and the recommended format from the CFA Institute. The price target was reached mainly through absolute valuation methods with the Discounted Cash Flow method (DCF), additionally a relative valuation and sensitivity analysis to provide support and complement the 5 year valuation. The assumptions considered during the report are the result of a wide analysis of the company annual reports, macroeconomic forecasts and industry trends from various different sources. The final recommendation is to BUY, considering the computed price target of 1422.15 EUR for 2021YE representing an upside potential of 46.07% from its closing price 767 EUR at 6 November 2020, which represents the date on which this study was finalized.
The present study presents include a detailed valuation of the French aerospace company Dassault Aviation SA. It was elaborated following the ISEG Master Final Project rules and the recommended format from the CFA Institute. The price target was reached mainly through absolute valuation methods with the Discounted Cash Flow method (DCF), additionally a relative valuation and sensitivity analysis to provide support and complement the 5 year valuation. The assumptions considered during the report are the result of a wide analysis of the company annual reports, macroeconomic forecasts and industry trends from various different sources. The final recommendation is to BUY, considering the computed price target of 1422.15 EUR for 2021YE representing an upside potential of 46.07% from its closing price 767 EUR at 6 November 2020, which represents the date on which this study was finalized.
Descrição
Mestrado em Finanças
Palavras-chave
Dassault Aviation Equity Research Avaliação Discounted Cash Flow method Avaliação Relativa Indústria Aeroespacial Valuation Relative Valuation Aerospace and Defense
Contexto Educativo
Citação
Tenreiro, Bruno Miguel Mendes (2020). "Equity research - Dassault Aviation". Dissertação de Mestrado. Universidade de Lisboa. Instituto Superior de Economia e Gestão.
Editora
Instituto Superior de Economia e Gestão