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Whether or not a stock is a good investment depends upon the individual investor. No stock is a good investment for every investor, nor is any stock a bad investment for every investor.
This stock is, in fact, less risky than others that provide the same return.
This stock is not overvalued by the market.
This stock is undervalued by the market. Its expected return is 20%, but the expected return for other securities with betas of 1.5 is only 16.5%, according to the Security Market Line. Since its expected return is higher than the expected return of other securities with the same beta, its price must be lower, relative to its returns, than the other securities with the same beta. And so it is undervalued by the market. Any securities or portfolios with expected returns that lie above the Security Market Line are undervalued, because their expected returns are higher than the point on the Security Market Line relative to their betas. Any securities or portfolios with expected returns that lie below the Security Market Line are overvalued, because their expected returns are lower than the point on the Security Market Line relative to their betas.