普通外文研报
Consumer (AO) | Poland retail sales: non-food drives a strong June
研报英文原文证据摘录
Consumer (AO) | Poland retail sales: non-food drives a strong June
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Unless otherwise stated in this report, target prices and investment recommendations are determined based on fundamental research methodologies and relies on commonly
used valuation methodologies such as Discounted Cash Flow (DCF), valuation multiples comparison with history and peers, Dividend Discount Model (DDM).
Valuation methodologies and models can be highly dependent on macroeconomic factors (such as the price of commodities, exchange rates and interest rates) as well as other
external factors including taxation, regulation and geopolitical changes (such as tax policy changes, strikes or war). In addition, investors’ confidence and market sentiment can
affect the valuation of companies. The valuation is also based on expectations that might change rapidly and without notice, depending on developments specific to individual
industries. Whichever valuation method is used there is a significant risk that the target price will not be achieved within the expected timeframe.
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KEPLER CHEUVREUX’ equity research policy is to update research rating when it deems appropriate in the light of new findings, markets development and any relevant
information that can impact the analyst’s view and opinion.
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