Stockwatch: Exposure to uncertainty
This article was originally published in Scrip
When a company invites analysts to a day-long briefing its purpose, usually, is to convince those who guide the capital markets that there are assets of value within the company that may have been overlooked. Companies hope that, after a sneak preview of future prospects, investors will value their stock more highly. Even in the absence of anything new, affirmation of what analysts already knew ought to underscore the assumptions they had made in earlier valuation models.