问题如下:
An analyst gathers the following information about similar companies in the banking sector:
Which of the companies is most likely to be undervalued?
选项:
A.First Bank.
B.Prime Bank.
C.Pioneer Trust.
解释:
C is correct.
Relative to the others, Pioneer Trust has the lowest P/E multiple and the P/B multiple is tied for the lowest with Prime Bank. Given the law of one price, similar companies should trade at similar P/B and P/E levels. Thus, based on the information presented, Pioneer is most likely to be undervalued.
law of one price是什么