Below are the valuation targets for Genuine Parts (GPC) for the next 10 years. Continue reading
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Category Archives: Altimeter
Emerson Electric 10-Year Targets
The valuation targets for Emerson Electric Co. (EMR) are based on a dividend growth rate which is derived from the lowest calculated growth rate as indicated on the Value Line Investment Survey dated December 28, 2018 and applied to Edson Gould’s Altimeter. A graphical representation of the overvalued, fair value, and undervalued levels are below.
The above Altimeter translates into the following undervalued and overvalued ranges since 1977:
Below are the valuation targets for Emerson Electric Co. (EMR) for the next 10 years. Continue reading
PPG Industries 10-Year Targets
The valuation targets for PPG Industries (PPG) are based on a dividend growth rate which is derived from the lowest calculated growth rate as indicated on the Value Line Investment Survey dated November 2, 2018 and applied to Edson Gould’s Altimeter. A graphical representation of the overvalued, fair value, and undervalued levels are below.
The above Altimeter translates into the following undervalued and overvalued ranges since 1983:
Below are the valuation targets for PPG Industries (PPG) for the next 10 years. Continue reading
Kellogg Co. 10-Year Targets
The valuation targets for Kellogg Co. (K) are based on a dividend growth rate of 4.50% which is derived from the lowest calculated growth rate as indicated on the Value Line Investment Survey dated October 19, 2018 and applied to Edson Gould’s Altimeter. A graphical representation of the overvalued, fair value, and undervalued levels are below.
The above Altimeter translates into the following undervalued and overvalued ranges since 1985:
Below are the valuation targets for Kellogg Co. (K) for the next 10 years. Continue reading
Medtronic 10-Year Targets
The valuation targets for Medtronic (MDT) are based on a dividend growth rate of 7.50% which is derived from the lowest calculated growth rate as indicated on the Value Line Investment Survey dated November 16, 2018 and applied to Edson Gould’s Altimeter. A graphical representation of the overvalued, fair value, and undervalued levels are below.
The above Altimeter translates into the following undervalued and overvalued ranges since 2008:
Below are the valuation targets for Medtronic (MDT) for the next 10 years. Continue reading
The TJX Companies 10-Year Targets
Below are the valuation targets for The TJX Companies (TJX) for the next 10 years. Continue reading
Posted in 10-year Targets, Altimeter, TJX
Tompkins Financial 10-Year Targets
Below are the valuation targets for Tompkins Financial (TMP) for the next 10 years. Continue reading
Carnival Corporation 10-Year Targets
Below are the valuation targets for Carnival Corp. (CCL) for the next 10 years.
Our valuation targets for Carnival Corp. (CCL) in 2019 are:
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$109.16 (overvalued)
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$78.67 (fair value)
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$48.18 (undervalued)
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$31.78 (extreme undervalue)
The valuation targets for Carnival Corp. (CCL) are based on a dividend growth rate of 2.50% which is derived from the annual 10-year growth rate as indicated on the Value Line Investment Survey dated November 2, 2018 and applied to Edson Gould’s Altimeter. A graphical representation of the overvalued, fair value, and undervalued levels are below.
The above Altimeter translates into the following undervalued and overvalued ranges since 2006:
10-Year Targets
| Undervalued | Fair Value | Overvalued | Extreme Undervalue | |
| 2018 | $47.00 | $76.75 | $106.50 | $31.00 |
| 2019 | $48.18 | $78.67 | $109.16 | $31.78 |
| 2020 | $49.38 | $80.64 | $111.89 | $32.57 |
| 2021 | $50.61 | $82.65 | $114.69 | $33.38 |
| 2022 | $51.88 | $84.72 | $117.56 | $34.22 |
| 2023 | $53.18 | $86.84 | $120.49 | $35.07 |
| 2024 | $54.51 | $89.01 | $123.51 | $35.95 |
| 2025 | $55.87 | $91.23 | $126.60 | $36.85 |
| 2026 | $57.26 | $93.51 | $129.76 | $37.77 |
| 2027 | $58.70 | $95.85 | $133.00 | $38.71 |
| 2028 | $60.16 | $98.25 | $136.33 | $39.68 |
| 2029 | $61.67 | $100.70 | $139.74 | $40.67 |
| 2030 | $63.21 | $103.22 | $143.23 | $41.69 |
| 2031 | $64.79 | $105.80 | $146.81 | $42.73 |
Observations
According to Value Line Investment Survey, Carnival Corp. (CCL) has an expected price range of $85-$125 by 2021-2023. On our end, we have a range from as low as $50.61 to as high as $120.49 in the same period of time.
A concern that we have with Carnival Corp. (CCL) is that the company employs an aggressive dividend policy in good times that requires being reigned in when the stock is slumping. This makes it necessary to watch for the extreme undervalued level as a natural reaction to the sharp dividend increases since 2015 as well as a possible dividend cut.
Last updated: January 8, 2019
Posted in 10-year Targets, Altimeter, CCL
Standex International 10-Year Targets
Below are the valuation targets for Standex International (SXI) for the next 10 years. Continue reading
Bristol-Myers Squibb 10-Year Targets
Below are the valuation targets for Bristol-Myers Squibb (BMY) for the next 10 years. Continue reading
Mercury General 10-Year Targets
Below are the valuation targets for Mercury General (MCY) for the next 10 years. Continue reading
Torchmark Corp. 10-Year Targets
Below are the valuation targets for Torchmark Corp. (TMK) for the next 10 years. Continue reading
Brookfield Infrastructure Partners 10-Year Targets
Below are the valuation targets for Brookfield Infrastructure Partners (BIP) for the next 10 years.
Our valuation targets for Brookfield Infrastructure Partners (BIP) in 2019 are:
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$52.56 (overvalued)
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$41.55 (fair value)
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$30.53 (undervalued)
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$20.52 (extreme undervalue)
The valuation targets for Brookfield Infrastructure Partners (BIP) are based on a dividend growth rate of 6.50% which is derived from the lowest calculated growth rate as indicated in Value Line Investment Survey dated October 12, 2018 and applied to Edson Gould’s Altimeter. A graphical representation of the overvalued, fair value, and undervalued levels are below.
The above Altimeter translates into the following undervalued and overvalued ranges since 2008:
10-Year Targets
| Year | Undervalued | Fair Value | Overvalued | Extreme Undervalue |
| 2018 | $28.67 | $39.01 | $49.35 | $19.27 |
| 2019 | $30.53 | $41.55 | $52.56 | $20.52 |
| 2020 | $32.52 | $44.25 | $55.97 | $21.86 |
| 2021 | $34.63 | $47.12 | $59.61 | $23.28 |
| 2022 | $36.88 | $50.19 | $63.49 | $24.79 |
| 2023 | $39.28 | $53.45 | $67.61 | $26.40 |
| 2024 | $41.83 | $56.92 | $72.01 | $28.12 |
| 2025 | $44.55 | $60.62 | $76.69 | $29.95 |
| 2026 | $47.45 | $64.56 | $81.67 | $31.89 |
| 2027 | $50.53 | $68.76 | $86.98 | $33.96 |
| 2028 | $53.82 | $73.23 | $92.64 | $36.17 |
| 2029 | $57.32 | $77.99 | $98.66 | $38.52 |
| 2030 | $61.04 | $83.06 | $105.07 | $41.03 |
| 2031 | $65.01 | $88.45 | $111.90 | $43.69 |
Observations
Based on our work, Brookfield Infrastructure Partners (BIP) has an expected price range of $34.63-$67.61 by 2021-2023. Value Line Investment Survey has targets of $40 to $55 in the 2021-2023 period.
Last updated: January 5, 2019
Posted in 10-year Targets, Altimeter, BIP
UGI Corp. 10-Year Targets
Below are the valuation targets for UGI Corp. (UGI) for the next 10 years. Continue reading
UMB Financial 10-Year Targets
Below are the valuation targets for UMB Financial Corp. (UMBF) for the next 10 years. Continue reading