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  "documentTitle": "Lazard | Investment Banking Pitch Book | 49 slides",
  "authorId": "lazard",
  "authorName": "Lazard",
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  "presentationDate": "2019-08-01 00:00:00",
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  "notes": "The table tracks financial metrics and valuation multiples for two entities (Raven and Vail) over a three-week period, including commentary on market shifts and forecast updates.",
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      "text": "Source: Vail management, public company filings, Barra Beta Book, Bloomberg and FactSet as of 8/16/19. 1 Previously showed only accelerated scenario. 2 Based on 10-year treasury yield as of 8/16/19. 3 Exit multiples apply to both 3-year and 5-year DCFs.",
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      "text": "Comparison table of Raven and Vail valuation drivers across Forecast Assumptions, Public Comparables, and DCF Assumptions.",
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      "text": "Update on Valuation Drivers",
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