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Equity research - Jaingsu Jiangsu Yanghe
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Resumo(s)
Este estudo contém uma avaliação da Jiangsu Yanghe elaborada de acordo com o Projeto de Trabalho Final do Programa de Mestrado em Finanças do ISEG. O Relatório de Avaliação segue as recomendações do CFA Institute (Pinto, Henry, Robinson, e Stowe, 2010). O presente relatório é emitido considenado a informação pública sobre a Jiangsu Yanghe disponível em 31 de Dezembro de 2018. Deste modo, o relatório não tem em consideração eventos ou circunstâncias que tenham ocorrido posteriormente a esta data. O preço-alvo foi obtido com recurso a métodos de avaliação absoluta, especificamente o método dos Fluxos de Caixa Descontados (DCF). Os pressupostos considerados neste estudo resultaram de uma análise exaustiva tanto de dados históricos divulgados publicamente pela empresa, como de bases de dados, como o S&P Capital IQ, Bloomberg L.P. e a Thomson Reuters Datastream. Com um preço-alvo de ¥141.8 para FA18 e um potencial de valorização de 16.31% face ao atual ¥121.9, a recomendação final para a Jiangsu Yanghe é de "Buy".
This study contains the valuation of Jiangsu Yanghe elaborated in accordance with ISEG´s Finance Master´s Final Work Project. Our Equity Research follows the adaptable format of a research report recommended by the CFA Institute (Pinto, Henry, Robinson, and Stowe, 2010). This research is issued considering the public available information on Jiangsu Yanghe on December 31st, 2018. Thus, the report does not take into account any events or circumstances which have arisen after this date. The target price was derived recurring to absolute valuation methods, specifically to the Discounted Cash Flow (DCF) Approach. The assumptions considered to conduct this study were the result of a thorough analysis of both the historical data publicly disclosed by the company and data from various sources, such as S&P Capital IQ, Bloomberg L.P. and Thomson Reuters Datastream. With a price target of ¥141.8 for YE18 and an upside potential of 16.31% from current ¥121.9, the final recommendation for Jiangsu Yanghe stands for "Buy".
This study contains the valuation of Jiangsu Yanghe elaborated in accordance with ISEG´s Finance Master´s Final Work Project. Our Equity Research follows the adaptable format of a research report recommended by the CFA Institute (Pinto, Henry, Robinson, and Stowe, 2010). This research is issued considering the public available information on Jiangsu Yanghe on December 31st, 2018. Thus, the report does not take into account any events or circumstances which have arisen after this date. The target price was derived recurring to absolute valuation methods, specifically to the Discounted Cash Flow (DCF) Approach. The assumptions considered to conduct this study were the result of a thorough analysis of both the historical data publicly disclosed by the company and data from various sources, such as S&P Capital IQ, Bloomberg L.P. and Thomson Reuters Datastream. With a price target of ¥141.8 for YE18 and an upside potential of 16.31% from current ¥121.9, the final recommendation for Jiangsu Yanghe stands for "Buy".
Descrição
Mestrado em Finanças
Palavras-chave
Pesquisa de Ações Avaliação Indústria Chinesa de Licor Licor médio e high-end Equity Research Valuation Chinese Liquor Industry Sub-High end Liquor
Contexto Educativo
Citação
Yang, Ying (2018). "Equity research - Jaingsu Jiangsu Yanghe". Dissertação de Mestrado, Universidade de Lisboa. Instituto Superior de Economia e Gestão.
Editora
Instituto Superior de Economia e Gestão