Credit Suisse Investment Banking Pitch Book
CONFIDENTIAL
Illustrative Stock Price Performance - Break Even
Discount Rate Analysis Using a 19.6x Multiple
DISCOUNT RATE REQUIRED FOR A PV OF $35.00 PER SHARE
Future Value based on Base Case
Discount Rate Required
For a $35.00 / share
Future Value based on Base Case +2% Per Annum
Discount Rate Required
For a $35.00/share
Future Value based on Base Case -2% Per Annum
Discount Rate Required
For a $35.00/share
2006
CREDIT FIRST
SUISSE BOSTON
2006
$26.43 $33.57
$26.43
-4.1%
-2.3%
$26.43 $34.20 $39.36
$32.94
-5.9%
2007
$37.97
Note: Future values calculated using the 3-year average 1-year forward P/E of 19 6x and a current stock price of $26.43 as of 1/27/05
4.2%
6.0%
$36.60
2.3%
2008
$41.25 $44.74
5.6%
2009
7.6%
$43.56 $48.11
6.3%
3.7%
8.3%
$39.04 $41.56
4.4%
32View entire presentation