Two page total – around 1,000 I have uploded the excel sheet and an example of the writing style and proces
•Only these sections:
•Overview (~100-150 words)
•State your position (Buy, Sell, or Hold), the target price, and upside/downside percent.
•Identify the key reasons for your opinion – don’t over explain, these will be covered below.
•Investment Summary (~300-450 words)
•For each of your key reasons identified above, explain what is driving your assumptions about the future.
•Financial Analysis (~200-300 words)
•Explain how your key reasons are driving your financial forecasts, particularly with regards to revenue, profitability, capital spending, working capital management and leverage.
•Valuation (~200-300 words)
•Identify the methodologies used which support your position and the resulting values.
•Discuss the inputs and outputs for each method you refer to, and how they connect to your overall value hypothesis.
•Investment Risks (~200-300 words)
•Explain what might make the price move differently than you predict, and how you accommodated this in your analysis.