Equity valuation

: Under Armour

Abstract

The present dissertation aims to value Under Armour, an American sportswear company. Since Valuation is not an exact science, during the literature review will be presented several valuation methods. Most of the authors mention DCF Valuation as one of the best but it seems impossible for them to reach a consensus about which one is in fact the best. In order to get Under Armour’s target price, a DCF valuation will be made and accompanied by a Relative Valuation that, when it is properly used, it can perform the perfect complement. In the end, a comparison between the dissertation’s result and JP Morgan report will be made. In January 2016, JP Morgan was predicting a target price of $90 per share.

Date of Award	17 Oct 2016
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Henrique Miguel Ribeiro Guimarães Bonfim (Supervisor)