Valuation Comparison Using Price Multiples

Global Enterprises, a conglomerate operating in multiple sectors, has reported a trailing twelve months (TTM) earnings per share (EPS) of $5.00 and a market price of $100 per share. An analyst looking to compare Global Enterprises with its industry peers notices that the industry average Price-to-Earnings (P/E) ratio is 20, while the company has a P/E ratio of 20 based on TTM earnings. Additionally, the analyst gathers data on two other companies in the same sector. Company A has a P/E ratio of 18 and Company B has a P/E ratio of 22. In which scenario would Global Enterprises be considered overvalued or undervalued relative to its peers if the analyst believes the P/E ratios of peers accurately reflect expected future growth?