Considering the underlying holdings of the ETFs in our coverage universe at ETF Channel, an analysis has been conducted to compare the trading price of each holding against the average analyst 12-month forward target price. The weighted average implied analyst target price for the ETF itself was then computed. Focusing on the First Trust NASDAQ-100 Ex-Technology Sector Index Fund ETF (Symbol: QQXT), it was found that the implied analyst target price for the ETF, based on its underlying holdings, stands at $95.07 per unit.
With QQXT trading at a recent price near $86.81 per unit, analysts have identified a 9.52% upside potential for this ETF after examining the average analyst targets of the underlying holdings. Notably, three of QQXT’s underlying holdings exhibit significant upside to their analyst target prices: Idexx Laboratories, Inc. (Symbol: IDXX), GE HealthCare Technologies Inc (Symbol: GEHC), and Tesla Inc (Symbol: TSLA). Despite IDXX trading at a recent price of $520.00/share, the average analyst target indicates an 11.58% increase to $580.22/share. Similarly, GEHC is projected to have an 11.24% upside with an average analyst target price of $83.40/share, compared to the recent share price of $74.97. In the case of TSLA, analysts anticipate a target price of $242.38/share, representing a 10.22% increase from the recent price of $219.91. Seasoned investors understand that historical performance serves as a unique looking glass into the future. Below is a presentation of a twelve-month price history chart comparing the stock performance of IDXX, GEHC, and TSLA.
Shown below is a summary table of the current analyst target prices under discussion:
| Name | Symbol | Recent Price | Avg. Analyst 12-Mo. Target | % Upside to Target |
|---|---|---|---|---|
| First Trust NASDAQ-100 Ex-Technology Sector Index Fund ETF | QQXT | $86.81 | $95.07 | 9.52% |
| Idexx Laboratories, Inc. | IDXX | $520.00 | $580.22 | 11.58% |
| GE HealthCare Technologies Inc | GEHC | $74.97 | $83.40 | 11.24% |
| Tesla Inc | TSLA | $219.91 | $242.38 | 10.22% |
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock’s trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
Also see:
Funds Holding FAT
Funds Holding LEVL
HLXA market cap history
