Analyst Targets Suggest Potential for Growth in Fidelity MSCI Energy ETF
In our analysis at ETF Channel, we have examined the holdings within the ETFs we cover. By comparing the trading price of each holding with the average 12-month forward target price set by analysts, we calculated the weighted average implied target price for the Fidelity MSCI Energy Index ETF (Symbol: FENY). Our findings indicate that the implied analyst target price for FENY is $29.47 per unit.
Currently trading around $25.00 per unit, FENY presents a potential upside of 17.88% according to analysts. Notably, three of FENY’s underlying holdings show considerable upside based on their target prices. These stocks include Sitio Royalties Corp (Symbol: STR), Northern Oil & Gas Inc (Symbol: NOG), and Helmerich & Payne, Inc. (Symbol: HP). STR, which recently traded at $20.31 per share, has a target price that is 38.68% higher at $28.17 per share. Similarly, NOG, priced at $36.17, shows a potential increase of 33.66% to reach an average analyst target of $48.34 per share. Meanwhile, HP is forecasted to climb 22.14% from its recent price of $33.19, with a target price of $40.54. Below is a chart comparing the stock performance of STR, NOG, and HP over the past twelve months:
Here is a summary of the current analyst target prices discussed above:
| Name | Symbol | Recent Price | Avg. Analyst 12-Mo. Target | % Upside to Target |
|---|---|---|---|---|
| Fidelity MSCI Energy Index ETF | FENY | $25.00 | $29.47 | 17.88% |
| Sitio Royalties Corp | STR | $20.31 | $28.17 | 38.68% |
| Northern Oil & Gas Inc | NOG | $36.17 | $48.34 | 33.66% |
| Helmerich & Payne, Inc. | HP | $33.19 | $40.54 | 22.14% |
It raises questions about whether analysts are justified in these pricing targets or if they may be overly optimistic about future trading levels. Are their forecasts based on solid reasoning or outdated data? While high price targets can signify hope for growth, they also risk being revised downward if market realities shift. Investors should conduct additional research to assess the validity of these analyst predictions.
10 ETFs With Most Upside To Analyst Targets »
Also see:
• KMX Price Target
• OPAD shares outstanding history
• STER shares outstanding history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
