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Advisor(s)
Abstract(s)
The aim of this Thesis is to evaluate Columbia Sportswear Company’s stock at 31 December 2014. In this way, to apply the most adjustable methodology I carry out a research among consensual valuation models. I conclude for company’s case DCF-WACC and Relative Valuation are the appropriate ones. Over the recent years, it is seen that company’s positive performance in global outdoor market increased market share. Being future perspectives optimistic resulting in a price target of US$ 61,21. Difference between market price, US$ 44,54, and price target led me to recommend a Buy position for Columbia Sportswear’s stock. A sensitivity analysis for the most critical variables was done and I note that WACC and perpetuity growth variations highly affect DCF-WACC model output. Regarding, comparison with Goldman Sachs we achieved similar investment recommendation.