Chapter 1, Problem 25DQ

What is the target stock price in one year

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Pluto Flyers, Inc., has balance sheet equity of $6.2 million. At the same time, the income statement shows net income of $865,000. The company company paid dividends of $472,500 and has 120,000 shares of stock outstanding. If the benchmark PE ratio is 20, what is the target stock price in one year? Answer: $144.20

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