Analysts Predict Significant Upside for SPDR S&P Global Natural Resources ETF
In evaluating the ETFs in our coverage at ETF Channel, we assessed the trading prices of their underlying holdings against the average 12-month forward target prices set by analysts. For the SPDR S&P Global Natural Resources ETF (Symbol: GNR), the implied analyst target price is calculated at $59.23 per unit.
Currently trading around $47.86 per unit, GNR presents a potential upside of 23.75%, as suggested by the average analyst targets associated with its underlying assets. Among GNR’s notable holdings showing strong upside are Petroleo Brasileiro SA (Symbol: PBR), Suncor Energy Inc (Symbol: SU), and Equinor ASA (Symbol: EQNR). Specifically, PBR’s recent trading price of $11.30 is significantly below its average analyst target of $16.61, indicating a potential 47.01% upside. Similarly, SU, trading at $32.21, has a target price of $44.52, yielding a potential increase of 38.21%. Furthermore, analysts project EQNR, currently priced at $22.56, to reach an average target of $28.18, which represents an upside of 24.91%.
See below for a twelve-month performance chart comparing the stock trends of PBR, SU, and EQNR:
Here’s a summary table detailing the current analyst target prices discussed:
| Name | Symbol | Recent Price | Avg. Analyst 12-Mo. Target | % Upside to Target |
|---|---|---|---|---|
| SPDR S&P Global Natural Resources ETF | GNR | $47.86 | $59.23 | 23.75% |
| Petroleo Brasileiro SA | PBR | $11.30 | $16.61 | 47.01% |
| Suncor Energy Inc | SU | $32.21 | $44.52 | 38.21% |
| Equinor ASA | EQNR | $22.56 | $28.18 | 24.91% |
These analyst targets raise pertinent questions: Are they justified, or overly optimistic? Do the analysts provide valid reasons for their targets, or do their expectations miss the mark amid recent changes within the industry or individual companies? A high target price compared to a stock’s current trading price can signify optimism but may lead to downgrades should the targets become outdated. Investors are encouraged to conduct thorough research into these matters.
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The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Nasdaq, Inc.
