André, RosárioBaltazar, Rodrigo Nunes Silva2024-05-242024-05-242023-01-182022-12-16http://hdl.handle.net/10362/167775This Master’s Thesis objective is to find the intrinsic value of Campari Group and suggest an investment decision based on the total return for a holding period of one year, from 1st of January 2023 to 31st December 2023. After growing above competitors over the last decade with its star beverage Aperol at the helm, Campari has built a reputation for growth that they ought to maintain. Throughout the report we defend Campari as a solid business with a proven track record of execution and plenty of growth avenues. However, awareness is raised regarding previous acquisitions high price points as well as current valuation multiples that seem to overestimate potential growth. We therefore suggest a HOLD position with a 31st December 2023 projected share price of EUR 10.39 and a holding period return of 2.97%, including dividends.engCampariSpiritsAlcoholDrinkmaster thesis203515340