&gt; Whether this price is appropriate depends on your confidence in the forecasts and their respective probabilities.<p>Did I miss something or did the authors not mention a discount rate, or Weighted Average Cost of Capital (WACC)? Unless I&#x27;m wrong, a discount factor is needed to calculate the present value, regardless of using a probability-weighted DCF or a simple DCF model.<p>If true, then without more information on the WACC, the price they state does not only depend on our confidence in the forecasts and their respective probabilities.