Jackson · 2025年02月25日

老师，这道题实际的implied 是不是比4%要小一点？

1. CFA II
2. Equity

* 问题详情，请 查看题干

NO.PZ201710200100000106

问题如下：

6. The dividend growth rate implied in the stock price of Company XYZ suggests that XYZ’s stock price is most likely:

选项：

A.

undervalued.

B.

fairly valued.

C.

overvalued.

解释：

C is correct.

The dividend growth rate implied in the stock price of XYZ (i.e., 6%) is greater than the growth rate assumed by the analyst (i.e., 4%), suggesting that XYZ is overvalued.

以为前三年没有div 用g=r-D/P的公式计算，实际是第四年的g，要试试放回到第0年，要小一点。