90. A stock selling at $50 has a P/E multiple of 20 on the basis of the current year’s earnings.
An analyst estimates that next’s earnings per share will be 10% higher and that the stock
should be valued on a forward looking basis at the industry average P/E of 18. Based on
the analyst’s assessment, it is most likely that the stock is currently:
A. overvalued.
B. fairly valued.
C. undervalued.
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