hmmmif you look at say the US, the WACC for the sector benchmark...

hmmm
if you look at say the US, the WACC for the sector benchmark (technology) is around 8.5%-9% (mean Gauss curve) which of course in the case of NXT will drive the terminal value down enev more (hence will drive the PV of TV down). But I'm interested what "g" they used for perpetual growth. My valuation (used to teach this stuff at melb Uni 25 yrs ago) is quite different, a bit larger wacc and a smaller beta. The "g" assumption makes a lot a difference this is where I think UBS may need to go back to drawing board and review. anyway, I am getting a different PT, that I am happy with.

used the same model for NVDA and ADBE and never looked back. Suggest do your own DCF valuation and compare.