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Equity research - Mondi PLC
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No decorrer deste Equity Research o preço das ações da Mondi plc sofreu grandes flutuações devido à pandemia COVID-19. Apesar disto, a Mondi plc é uma empresa matura e verticalmente integrada, dois factores importantes sobre a força da Mondi que a ajudam a sobreviver as incertezas trazidas pela pandemia.
Esta avaliação contem informação até dia 6 de novembro de 2020, onde o preço de fecho foi 17,64€ por ação. De acordo com a avaliação feita foi definido um nível de risco médio. Foram utilizados quatro métodos de avaliação diferentes: método Discounted Cash Flow (DCF), método Adjusted Present Value (APV), Método de avaliação relativa através de múltiplos e o Dividend Discount Model. Através destes métodos foi obtido um preço-alvo de 20,0€ por ação para 2021YE.
A Covid-19 teve um grande impacto na avaliação da Mondi plc. Os riscos derivados da pandemia Covid-19 são difíceis de interpretar, uma vez que não se sabe durante quanto tempo a pandemia vai durar. A minha recomendação de investimento para a Mondi plc é HOLD, com um upside potencial de 13,4%.
During this equity research the stock price of Mondi plc was fluctuating heavily due to COVID-19. However, Mondi plc is a mature and vertical integrated company, two important aspects why Mondi plc is strong to survive the uncertainties of COVID-19. This pandemic will have a structural change on the value chain of Mondi plc. This valuation has as a valuation date as of Friday the 6th of November 2020, on which the stock price was on €17,64/sh. This valuation is assessed as medium risk. For the valuation four different valuation methods were used: The discounted Cash Flow Method (DCF), Adjusted Present Value Method (APV), Relative valuation Method (Multiples) and the Dividend Discount Model. These different valuations led to a target price of €20,0/sh for 2021YE. COVID-19 had a heavy impact on the valuation of Mondi plc. The risks regarding COVID-19 are hard to interpret since it is unknown how long this pandemic will last. To HOLD is my recommendation for Mondi plc with an upside potential of 13,4%.
During this equity research the stock price of Mondi plc was fluctuating heavily due to COVID-19. However, Mondi plc is a mature and vertical integrated company, two important aspects why Mondi plc is strong to survive the uncertainties of COVID-19. This pandemic will have a structural change on the value chain of Mondi plc. This valuation has as a valuation date as of Friday the 6th of November 2020, on which the stock price was on €17,64/sh. This valuation is assessed as medium risk. For the valuation four different valuation methods were used: The discounted Cash Flow Method (DCF), Adjusted Present Value Method (APV), Relative valuation Method (Multiples) and the Dividend Discount Model. These different valuations led to a target price of €20,0/sh for 2021YE. COVID-19 had a heavy impact on the valuation of Mondi plc. The risks regarding COVID-19 are hard to interpret since it is unknown how long this pandemic will last. To HOLD is my recommendation for Mondi plc with an upside potential of 13,4%.
Descrição
Mestrado em Finanças
Palavras-chave
Equity Research Avaliação de Empresas Fusões e Aquisições COVID-19 Papel & Floresta Valuation WACC DCF APV FCFF FCFE DDM Mergers & Acquisitions Paper & Forest
Contexto Educativo
Citação
Schaeffers, Rogier (2020). "Equity research - Mondi PLC". Dissertação de Mestrado. Universidade de Lisboa. Instituto Superior de Economia e Gestão.
Editora
Instituto Superior de Economia e Gestão