FIN ANALYSIS & FIRM VALUATION

Working individually, select two firms from the industry of your choice (you may not use the industry or firms used for the in class cases). I recommend that you select one firm that reports under US GAAP and one under IFRS or a local accounting standard. Before proceeding, Then complete a thorough analysis of these firms and develop an equity research report for each firm that includes:
 A competitive analysis of the industry and the firm’s competitive positioning
 Financial analysis of both firms
 Integrated financial forecast model developed in Excel
 Determination of each firm’s weighted average cost of capital
 A valuation of each firm utilizing both comparables and DCF approaches
 Scenario analysis
 One year target stock price with rationale
 Investment thesis/recommendation

Some sample projects from past terms will be provided as samples.