Explain each variable used in the analysis, why you accepted the given input, or how and why you changed a variable.

Company Pfizer
The purpose of this note is to carefully explain the general expectations and requirements for the Discounted Cash Flow Model Valuation Assignment that is to be prepared for FINC 440. The information and materials presented here are intended to make sure that you clearly understand the general expectations and that there are no misunderstandings about what is to be done and what is expected.

Please review this material so that you are familiar with the specific requirements that are be followed in the preparation and submission of the Assignment.

This Assignment comprises 15% of the final course grade. It will take some time and effort to produce high quality analysis.

1. Using the facilities of ValuePro (http://www.valuepro.net) for the company that you have selected to study conduct a discounted cash flow valuation.

2. The analysis should explain each variable used in the analysis, why you accepted the given input, or how and why you changed a variable.

3. The analysis should also examine the relevant cash flows, compare the final valuation to the stock’s current price and explain any differences. (Note: Remember to adjust the equity risk premium to between 5% and 6%; also, adjust the growth rate to an appropriate long-term growth rate.)