Valuation of Norsk Solar
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Abstract
The goal of the thesis is to value the equity of Norsk Solar on March 31, 2022. This is done with the adjusted present value method and a relative valuation.
The base case scenario finds a negative equity value. However, this is not supported by the relative valuation, which suggests a price per share close to the current price in the market.
Based on the findings in the thesis, it is concluded that the company is overvalued. As a consequence, the thesis results in a sell recommendation.