This part/section of the assignment should contain the estimation of the value of the PHU NHUAN JEWELRY JOINT STOCK COMPANY(PNJ)s share using:

• Dividend or Free Cash Flow to Equity model (FCFE)
• Price-Earnings (PE) or any relative valuation model
• Perform sensitivity analysis for each model, i.e. if a model assumption change, how different the fundamental price is?

You are expected to use the Capital Asset Pricing Model (CAPM) - discussed in topic 3 - to estimate the required rate of return or discount rate needed for each model.