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| 3.11 MB | Adobe PDF |
Authors
Advisor(s)
Abstract(s)
Complex understanding of the entire amplitude of market movements and how they are
correlated is an important tool to succeed when investing, nonetheless, the foundation of the
latter lies on fundamentals analysis, i.e. Equity Valuation. In order to invest successfully, the
ultimate knowledge is based on understanding the intrinsic value of a company and how it
reflects versus markets’ pricing. The objective of this dissertation is to provide an in-depth
breakdown of the relevant literature in the valuation fields, followed by a customized
methodology that evaluates the Swatch Group’s fair value within the current industry context.
For comparison purposes this valuation is then analyzed versus a J.P. Morgan Investment Bank
coverage note.
The target price for the bearer shares is valued at 495,00 CHF, 17% above the current market
consensus, considering it to be significantly underestimated.