what is the difference between Justified and intrinsic

CFA Level II
#1

I know my question is too general. But i think i really confused by these two concepts! Help me out.

#2

justified -> by fundamentals. What the fundamentals such as ROE, growth rate, Payout Ratio indicate stock value should be. intrinsic -> value based on facts investor believes to be true/real. when all investors reach same conclusion - the intrinsic value becomes the fair market value/Market Value.

#3

so justified = intrinsic？ can i say that?

#4

In theory they should be equal. I would say justified means to look at other asset prices which justify the prevailing market price of the company. More to do with relative valuation models While intrinsic would be looking at data inputs, fundamentals like cash flows, leverage ratio etc to derive the value of the company. More to do with absolute valuation models.