中根股面臨很難評價的風險
https://finance.yahoo.com/news/wall-street-slashed-prices-reflect-000000903.htmlUnder what’s called the sum-of-the-parts (SOTP) method, which adds up the market value of various business units, Morgan Stanley says it would put Alibaba’s U.S. stock price target at $360, their earlier bull case. That figure has now been trimmed to $220 when backing out the value of non-core business, such as Taobao Deals.
A more prudent and preferred methodology for the brokerage is using a discounted cash flow method (DCF), which values the stock at $140. On Thursday, its U.S. shares closed at $108.80.
“Right now, the price targets we are having across the board are very easy to achieve in the DCF model by giving it a discount because we sit at so much risk associated,” said Manuel Muehl, analyst at DZ Bank AG, who is one of the three analysts rating Tencent a sell. He called it “unrealistic” for bullish analysts to avoid pricing in political risks.
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