Analysts Highlight Significant Upside for Invesco S&P SmallCap 600 ETF
Analyzing the underlying holdings of the ETFs in our coverage universe at ETF Channel, we compared each holding’s trading price against the average analyst 12-month forward target price. We calculated the weighted average implied analyst target price for the Invesco S&P SmallCap 600 Revenue ETF (Symbol: RWJ). Currently, the implied analyst target price for RWJ stands at $53.77 per unit.
At a recent trading price of $41.69 per unit, analysts see a promising 28.98% upside for this ETF, based on the average analyst targets of the underlying holdings. Among RWJ’s components, three notable stocks with considerable upside to their analyst target prices are Calix Inc (Symbol: CALX), Six Flags Entertainment Corporation (Del) (Symbol: FUN), and Omnicell Inc (Symbol: OMCL). CALX, trading at $29.40 per share, has an average analyst target price that is 67.80% higher at $49.33 per share. Similarly, FUN shows a potential upside of 54.54% from its recent price of $36.02 if it reaches the average analyst target of $55.67. Analysts are optimistic about OMCL, forecasting a target price of $54.71 per share, reflecting a 52.19% increase from its recent price of $35.95. Below is a twelve-month price history chart comparing the stock performance of CALX, FUN, and OMCL:
Here is a summary table of the current analyst target prices for the discussed stocks:
| Name | Symbol | Recent Price | Avg. Analyst 12-Mo. Target | % Upside to Target |
|---|---|---|---|---|
| Invesco S&P SmallCap 600 Revenue ETF | RWJ | $41.69 | $53.77 | 28.98% |
| Calix Inc | CALX | $29.40 | $49.33 | 67.80% |
| Six Flags Entertainment Corporation (Del) | FUN | $36.02 | $55.67 | 54.54% |
| Omnicell Inc | OMCL | $35.95 | $54.71 | 52.19% |
Investors may wonder if analysts are justified in these targets or if they are overly optimistic about these stocks’ performance over the next year. It is important to consider whether analysts’ predictions have valid justifications or if they are lagging behind recent developments in these companies and their respective industries. A high target price compared to a stock’s current trading price can indicate future optimism but may also foreshadow potential target price downgrades if the targets are outdated. These questions highlight the need for further investor research.
10 ETFs With Most Upside To Analyst Targets »
Also see:
• ETFs Holding PXLW
• ETFs Holding LNG
• Top Ten Hedge Funds Holding JBR
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
