Erkilet, Gülcan; Janke, Gerrit; Kasperzak, Rainer - In: Journal of Business Economics 92 (2021) 5, pp. 741-779
show that 612 of the analyzed analyst reports are based on a holistic valuation methodology instead of a sum of the parts … holistic rather than the sum of the parts valuation approach to determine the fundamental value of the company. Additional … results emphasize that target price accuracy improves when analysts use the sum of the parts valuation that bases solely on …