问一道题：NO.PZ201710200100000209

* 问题详情，请查看题干

问题如下：

9. Based on Exhibit 4, Intern 2 should conclude that the Xavier stock is:

选项：

underpriced.

fairly priced.

overpriced.

解释：

A is correct. Intern 2 values Xavier stock at USD 56.372 per share, which is higher than the current price of USD 52.

D₁ = 2.000 × (1.048)¹ = 2.096

D₂ = 2.000 × (1.048)² = 2.197

D₃= 2.000 × (1.048)³ = 2.302

D₄= 2.000 × (1.048)⁴ = 2.413

D₅= 2.000 × (1.048)⁴ × 1.04 = 2.510

$\begin{array}{l} V a l u e p e r s h a r e = \frac{2.096}{{(1 + 0.078)}^{1}} + \frac{2.197}{{(1 + 0.078)}^{2}} + \frac{2.302}{{(1 + 0.078)}^{3}} + \frac{2.413 + \frac{2.510}{(0.078 - 0.04)}}{{(1 + 0.078)}^{4}} \\ = U S D 56.372 \end{array}$

用P0和g反推出implied g，再和预期的growth rate比较，这样计算可以吗？

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2 个答案

Debrah_品职答疑助手 · 2020年12月17日

同学你好，你列一下你的计算过程吧

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Debrah_品职答疑助手 · 2020年12月12日

同学你好，这里是两阶段的DDM模型，两个阶段的g不同，怎么比较呢？

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NO.PZ201710200100000209 问题如下 9. Baseon Exhibit 4, Intern 2 shoulconclu ththe Xavier stois: A.unrprice B.fairly price C.overprice A is correct. Intern 2 values Xavier stoUS56.372 per share, whiis higher ththe current priof US52. = 2.000 × (1.048)1 = 2.096 = 2.000 × (1.048)2 = 2.197 = 2.000 × (1.048)3 = 2.302 = 2.000 × (1.048)4 = 2.413 = 2.000 × (1.048)4 × 1.04 = 2.510 Value per share = 2.096 (1+0.078) 1 + 2.197 (1+0.078) 2 + 2.302 (1+0.078) 3 + 2.413+ 2.510 ( 0.078−0.04 ) (1+0.078) 4 =US6.372 我算出来-是一致的，但的计算方法难道不是+P4=2.4125*(1+4%)/7.8%-4%么，然后用CF的计算器那边录入，计算NPV算value么

2024-07-15 14:38 1 · 回答

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2024-04-17 15:53 1 · 回答

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2023-03-17 00:22 1 · 回答

问一道题：NO.PZ201710200100000209

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