Fidelity Enhanced Mid Cap ETF Shows 10.95% Upside Potential

Analysts Evaluate FMDE Against Its Underlying Holdings

In a detailed analysis of exchange-traded funds (ETFs) at ETF Channel, we examined the trading prices of constituent holdings alongside the average 12-month analyst target prices. For the Fidelity Enhanced Mid Cap ETF (Symbol: FMDE), the calculated implied analyst target price stands at $37.87 per unit.

FMDE’s Current Price Signals Potential Growth

Currently trading near $34.13 per unit, FMDE indicates a potential upside of 10.95% based on the average targets of its underlying assets. Among these, three holdings show particularly strong upward potential: Gates Industrial Corp PLC (Symbol: GTES), Gaming & Leisure Properties, Inc (Symbol: GLPI), and Viper Energy Inc (Symbol: VNOM). Gates Industrial shares are valued at $20.49, while the average analyst target is $23.55, representing a 14.91% upside. Similarly, GLPI’s recent price of $48.05 suggests a 13.86% upside to its target of $54.71. Viper Energy’s current share price of $51.37 reflects a potential 12.77% increase compared to its analyst target of $57.93.

Below is a twelve-month price performance chart for GTES, GLPI, and VNOM:

Summary of Analyst Target Prices

Here is a summary table showcasing the current analyst target prices for the mentioned holdings:

Are Analysts’ Predictions Realistic?

The question remains: Do analysts have solid grounds for their target prices, or are they being overly optimistic? A high target price in comparison to a company’s trading price may signal future potential but could also lead to lowered expectations if conditions change. Investors should conduct thorough research to gauge the validity of these forecasts.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.