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NASDAQ BUY Fundamental research indicates a 25% upside in the price of the NASDAQ common stock for the
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weighted average of target prices obtained by using DCF and comparative valuation methodologies.
We have taken a 6-12 month investment horizon for this stock as the industry in which Arch Capital
Stock operates is highly cyclical and therefore trends can be captured more accurately with a shorter
Ticker: ACGL.O investment horizon.
Target price: US$81.10
We upgrade the NASDAQ common stock from a HOLD to a BUY based on fundamental factors, with a
Current price: US$64.96 6-12 month target price of US$81.10.
European BUY The European stock is expected to appreciate approximately 26% over the next 6-12 months as the
25% fundamental upside, augmented by approximately 5 percentage points upside attributable purely
Stock1 to the anticipated appreciation of the US dollar against the Euro, is partially offset by 4 percentage
Ticker: ACGL.BE points downside attributable to a reduction in premium over the same period2.
Target price: €53.74
Current price: €42.58
We upgrade the European stock from a HOLD to a BUY with a 6–12 month target price of €53.74.
Supervisor: Somnath Banerjee Investment horizon - short term actionable trading strategies
Analyst: Dewanshi Doshi This report addresses the needs of strategic investors with a long term investment horizon of 6-12 months. If this
Editor: Heloise Capon report is provided to you by your broker under the Global Settlement, you may now also access (free of charge) the
short term trading outlook that we publish from time to time for this issuer, looking at the coming 5-30 days for
Global Research Director: readers with a shorter trading horizon. These are available online only at www.researchoracle.com
Satish Betadpur, CFA