Bill Ackman of Pershing Square capital is out with his latest advocacy piece. This time Pershing Square is presenting on Lowe's. This presentation is shorter than many of his others, but in this case the story is pretty simple. Basically he thinks Lowe's can be worth a midpoint valuation of $36 in 2014 which is a 65% return or an 18% IRR.
Pershing Square - Waiting for a Bounce - 2011.11.08