Publicação
Equity research - Roche Holding AG
| Resumo: | The present Equity Research report, Roche Holding AG, follows the rules of ISEG Master´s Final Work and also the format recommended by the CFA Institute. Including the different techniques to reach the Price Target for investment as well as the potential risks that should be aware of. Roche is the world’s largest biopharmaceutical company and it also has a leading position in cancer treatment. By 2021, the revenue reached CHF 62.8 bn, with an increase of 9% YoY. The reason for choosing Roche and the pharmaceutical industry is mainly driven by the COVID-19 pandemic situation together with the increasing awareness of people on health. Besides, the curiosity of what will be drivers of profitability and how will be the future trend to fight with cancer also stimulated me to make this choice. Through the research, the final conclusion for investment is Buy, with a Price Target of CHF 424.96 per share by 2023 YE, indicating an upside potential of 18.44% compared with the closing price of CHF 358.8 on 2nd of May 2022, an annualized return of 11.72% by using the Discounted Cash Flow (DCF) approach, WACC method. Other methods like Adjusted Present Value (APV), Dividend Discount Model (DDM), Flow to Equity (FTE) and Relative Valuation are also adopted to have a robust result. When doing investment, risks can be the critical factors that we should never ignore. The risk level for Roche is Medium and the report presents a special chapter to give detailed explanation on different categories of risks that the company can face. All the data referenced in this report are until May of 2022. |
|---|---|
| Autores principais: | Shao, Jianan |
| Assunto: | Roche AG Equity Research Pharmaceutical Industry R&D Valuation Mergers & Acquisitions COVID-19 Ukraine War Risks Indústria Farmacêutica Investigação e Desenvolvimento Avaliação Fusões e Aquisições Guerra Ucraniana Riscos |
| Ano: | 2022 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório da Universidade de Lisboa |
| _version_ | 1866809264470753280 |
|---|---|
| author | Shao, Jianan |
| author_facet | Shao, Jianan |
| author_role | author |
| contributor_name_str_mv | Vieira, Telmo Repositório Científico de Acesso Aberto da ULisboa |
| country_str | PT |
| creators_json_txt | [{\"Person.name\":\"Shao, Jianan\"}] |
| datacite.contributors.contributor.contributorName.fl_str_mv | Vieira, Telmo Repositório Científico de Acesso Aberto da ULisboa |
| datacite.creators.creator.creatorName.fl_str_mv | Shao, Jianan |
| datacite.date.Accepted.fl_str_mv | 2022-07-01T00:00:00Z |
| datacite.date.available.fl_str_mv | 2023-04-06T00:30:27Z |
| datacite.date.embargoed.fl_str_mv | 2023-04-06T00:30:27Z |
| datacite.rights.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| datacite.subjects.subject.fl_str_mv | Roche AG Equity Research Pharmaceutical Industry R&D Valuation Mergers & Acquisitions COVID-19 Ukraine War Risks Indústria Farmacêutica Investigação e Desenvolvimento Avaliação Fusões e Aquisições Guerra Ucraniana Riscos |
| datacite.titles.title.fl_str_mv | Equity research - Roche Holding AG |
| dc.contributor.none.fl_str_mv | Vieira, Telmo Repositório Científico de Acesso Aberto da ULisboa |
| dc.creator.none.fl_str_mv | Shao, Jianan |
| dc.date.Accepted.fl_str_mv | 2022-07-01T00:00:00Z |
| dc.date.available.fl_str_mv | 2023-04-06T00:30:27Z |
| dc.date.embargoed.fl_str_mv | 2023-04-06T00:30:27Z |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | http://hdl.handle.net/10400.5/25667 |
| dc.language.none.fl_str_mv | eng |
| dc.publisher.none.fl_str_mv | Instituto Superior de Economia e Gestão |
| dc.rights.none.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| dc.subject.none.fl_str_mv | Roche AG Equity Research Pharmaceutical Industry R&D Valuation Mergers & Acquisitions COVID-19 Ukraine War Risks Indústria Farmacêutica Investigação e Desenvolvimento Avaliação Fusões e Aquisições Guerra Ucraniana Riscos |
| dc.title.fl_str_mv | Equity research - Roche Holding AG |
| dc.type.none.fl_str_mv | http://purl.org/coar/resource_type/c_bdcc |
| description | The present Equity Research report, Roche Holding AG, follows the rules of ISEG Master´s Final Work and also the format recommended by the CFA Institute. Including the different techniques to reach the Price Target for investment as well as the potential risks that should be aware of. Roche is the world’s largest biopharmaceutical company and it also has a leading position in cancer treatment. By 2021, the revenue reached CHF 62.8 bn, with an increase of 9% YoY. The reason for choosing Roche and the pharmaceutical industry is mainly driven by the COVID-19 pandemic situation together with the increasing awareness of people on health. Besides, the curiosity of what will be drivers of profitability and how will be the future trend to fight with cancer also stimulated me to make this choice. Through the research, the final conclusion for investment is Buy, with a Price Target of CHF 424.96 per share by 2023 YE, indicating an upside potential of 18.44% compared with the closing price of CHF 358.8 on 2nd of May 2022, an annualized return of 11.72% by using the Discounted Cash Flow (DCF) approach, WACC method. Other methods like Adjusted Present Value (APV), Dividend Discount Model (DDM), Flow to Equity (FTE) and Relative Valuation are also adopted to have a robust result. When doing investment, risks can be the critical factors that we should never ignore. The risk level for Roche is Medium and the report presents a special chapter to give detailed explanation on different categories of risks that the company can face. All the data referenced in this report are until May of 2022. |
| dirty | 0 |
| eu_rights_str_mv | openAccess |
| format | masterThesis |
| fulltext.url.fl_str_mv | https://repositorio.ulisboa.pt/bitstreams/c3fc5f52-3ff8-46aa-9d46-cd6b440b5d52/download |
| id | ul_a4e2be3e13cf3eaeb111d3b4a0548a9f |
| identifier.url.fl_str_mv | http://hdl.handle.net/10400.5/25667 |
| instacron_str | ul |
| institution | Universidade de Lisboa |
| instname_str | Universidade de Lisboa |
| language | eng |
| network_acronym_str | ul |
| network_name_str | Repositório da Universidade de Lisboa |
| oai_identifier_str | oai:repositorio.ulisboa.pt:10400.5/25667 |
| organization_str_mv | urn:organizationAcronym:ul |
| person_str_mv | Shao, Jianan |
| publishDate | 2022 |
| publisher.none.fl_str_mv | Instituto Superior de Economia e Gestão |
| reponame_str | Repositório da Universidade de Lisboa |
| repository_id_str | urn:repositoryAcronym:ul |
| service_str_mv | urn:repositoryAcronym:ul |
| spelling | engInstituto Superior de Economia e Gestãopt_PTThe present Equity Research report, Roche Holding AG, follows the rules of ISEG Master´s Final Work and also the format recommended by the CFA Institute. Including the different techniques to reach the Price Target for investment as well as the potential risks that should be aware of. Roche is the world’s largest biopharmaceutical company and it also has a leading position in cancer treatment. By 2021, the revenue reached CHF 62.8 bn, with an increase of 9% YoY. The reason for choosing Roche and the pharmaceutical industry is mainly driven by the COVID-19 pandemic situation together with the increasing awareness of people on health. Besides, the curiosity of what will be drivers of profitability and how will be the future trend to fight with cancer also stimulated me to make this choice. Through the research, the final conclusion for investment is Buy, with a Price Target of CHF 424.96 per share by 2023 YE, indicating an upside potential of 18.44% compared with the closing price of CHF 358.8 on 2nd of May 2022, an annualized return of 11.72% by using the Discounted Cash Flow (DCF) approach, WACC method. Other methods like Adjusted Present Value (APV), Dividend Discount Model (DDM), Flow to Equity (FTE) and Relative Valuation are also adopted to have a robust result. When doing investment, risks can be the critical factors that we should never ignore. The risk level for Roche is Medium and the report presents a special chapter to give detailed explanation on different categories of risks that the company can face. All the data referenced in this report are until May of 2022.application/pdfpt_PTEquity research - Roche Holding AGShao, JiananVieira, TelmoHostingInstitutionOrganizationalRepositório Científico de Acesso Aberto da ULisboae-mailmailto:repositorio@reitoria.ulisboa.ptrepositorio@reitoria.ulisboa.pt2023-04-06T00:30:27Z2022-072022-07-01T00:00:00ZHandlehttp://hdl.handle.net/10400.5/25667http://purl.org/coar/access_right/c_abf2open accessRoche AGEquity ResearchPharmaceutical IndustryR&DValuationMergers & AcquisitionsCOVID-19Ukraine WarRisksIndústria FarmacêuticaInvestigação e DesenvolvimentoAvaliaçãoFusões e AquisiçõesGuerra UcranianaRiscos2069098 bytesliteraturehttp://purl.org/coar/resource_type/c_bdccmaster thesishttp://purl.org/coar/access_right/c_abf2application/pdffulltexthttps://repositorio.ulisboa.pt/bitstreams/c3fc5f52-3ff8-46aa-9d46-cd6b440b5d52/download |
| spellingShingle | Equity research - Roche Holding AG Shao, Jianan Roche AG Equity Research Pharmaceutical Industry R&D Valuation Mergers & Acquisitions COVID-19 Ukraine War Risks Indústria Farmacêutica Investigação e Desenvolvimento Avaliação Fusões e Aquisições Guerra Ucraniana Riscos |
| status | SINGLETON |
| subject.fl_str_mv | Roche AG Equity Research Pharmaceutical Industry R&D Valuation Mergers & Acquisitions COVID-19 Ukraine War Risks Indústria Farmacêutica Investigação e Desenvolvimento Avaliação Fusões e Aquisições Guerra Ucraniana Riscos |
| title | Equity research - Roche Holding AG |
| title_full | Equity research - Roche Holding AG |
| title_fullStr | Equity research - Roche Holding AG |
| title_full_unstemmed | Equity research - Roche Holding AG |
| title_short | Equity research - Roche Holding AG |
| title_sort | Equity research - Roche Holding AG |
| topic | Roche AG Equity Research Pharmaceutical Industry R&D Valuation Mergers & Acquisitions COVID-19 Ukraine War Risks Indústria Farmacêutica Investigação e Desenvolvimento Avaliação Fusões e Aquisições Guerra Ucraniana Riscos |
| topic_facet | Roche AG Equity Research Pharmaceutical Industry R&D Valuation Mergers & Acquisitions COVID-19 Ukraine War Risks Indústria Farmacêutica Investigação e Desenvolvimento Avaliação Fusões e Aquisições Guerra Ucraniana Riscos |
| url | http://hdl.handle.net/10400.5/25667 |
| visible | 1 |