Cars valuation
Hey guys. I am student currently and we have this investor's club where we deal with equities, fundamental analysis and stuff. I picked cars industry (I am from Europe and cars are pretty important for my country). I have been going through some research and I find out that all analysts are using multiples and nobody focuses on DCF.
Now why is that? Is it because cars are cyclical (so model is very sensitive to sales)? Also one analysts noted that car investors focus on 'earnings momentum'. What exactly does this mean? I suppose multiples reflect that better?
Thanks for any insight.
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