求助关于股票undervalued, overvalued的事宜 股票, mkt, expected, properly, manager

genCFA

The risk-free rate is 5% and the expected market return is 15%. A portfolio manager is estimating a return of 20% on a stock with a beta of 1.5. Based on the SML and the analyst's estimate, this stock is
A. properly valued
B. overvalued
C. undervalued

到底那个是用在公式里的E(mkt),那个又是用来做比较的，我始终搞不清楚，请问有谁可以指教一下，谢谢

genCFA

谢谢你，解释的很明白。 我的思路也是这样，但是，我老是搞不懂它的用词： expected market return  15％用来代入公式，然后和20％比较，还是用esimated return of 20%来代入公式计算，再与15％做比较。说起来都是市场期望值，很confused