Using the 2 Stage Free Cash Flow to Equity, Inspired Entertainment fair value estimate is US$16.17. Current share price of US$9.17 suggests Inspired Entertainment is potentially 43% undervalued The US$14.75 analyst price target for INSE is 8.8% less than our estimate of fair value Does the March share price for Inspired Entertainment, Inc. (NASDAQ:INSE) reflect what it's really worth? Generally the first stage is higher growth, and the second stage is a lower growth phase