| In this paper, the key point is that though the stock price of Wuliangye company increases very fast in the past one and a half years, it's still a good chance for us to invest.This paper consists of three parts:With the development of the economy, more and more people are willing to pay for luxury goods, this is the fundamental reason for notable alcohol company to develop very fast. Luxurization is a trend in alcohol industry, and the notable alcohol company will develop faster than the industry average.The brandname is the core competence for Wuliangye company. The brandname give the company a stable objective market, and Wuliangye can earn more from this luxury market. With the development of the luxury alcohol market, Wuliangye will take more market share in the future.We valuate Wuliangye in two ways. Compared with other companies in the alcohol industry, the price of Wuliangye gets a discount. We use three stages increase model to discount its free cash flow, the result shows that it's valuable for investment. |
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