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Equity valuation
: Amgen Inc.

  • Diogo Jorge Ruivo Soares (Student)

Student thesis: Master's Thesis

Abstract

The main purpose of this dissertation is to determine the target share-price for Amgen Inc., a biopharmaceutical company based in United States of America and listed on New York Stock Exchange (NYSE). For the valuation, an analysis was conducted on the company’s structure, their business model, the primary sources of revenues, the risks associated and the dynamics of the market and competitors. This research offered a clearer insight into the possible future cash flows of the company and through the Discounted Cash Flow method we were able to determine the target valuation for each share of Amgen. In addition, the Relative Valuation was used to compare the target share price. Our research recommends a Hold investment, with a target share price of 323.10 USD, 13.64% above the share price at 28th of March 2024.
Date of Award17 Oct 2024
Original languageEnglish
Awarding Institution
  • Universidade Católica Portuguesa
SupervisorJosé Carlos Tudela Martins (Supervisor)

UN SDGs

This student thesis contributes to the following UN Sustainable Development Goals (SDGs)

  1. SDG 8 - Decent Work and Economic Growth
    SDG 8 Decent Work and Economic Growth
  2. SDG 9 - Industry, Innovation, and Infrastructure
    SDG 9 Industry, Innovation, and Infrastructure

Designation

  • Mestrado em Finanças

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