Analysts Predict Strong Upside for SPDR Portfolio S&P 400 ETF
At ETF Channel, we have conducted an analysis of the ETFs in our coverage universe. By comparing the trading prices of each holding to the average analyst 12-month forward target prices, we derived a weighted average implied target price for the ETF itself. For the SPDR Portfolio S&P 400 Mid Cap ETF (Symbol: SPMD), we found the implied analyst target price to be $63.22 per unit.
Currently, SPMD is trading at approximately $45.88 per unit. This indicates a potential upside of 37.80% based on the average target prices of its underlying holdings. Three notable stocks within the ETF that show significant upside to their analyst targets include Fabrinet (Symbol: FN), Timken Co. (Symbol: TKR), and Hexcel Corp. (Symbol: HXL). Despite FN’s recent trading price of $178.70 per share, analysts expect an average target price of $267.57 per share, reflecting an upside of 49.73%. TKR has a potential increase of 48.76% from its current price of $59.01, with an average target set at $87.78 per share. HXL’s analysts project a target of $69.86 per share, indicating a 46.28% upside from its current price of $47.76. Below is a chart illustrating the twelve-month price history of FN, TKR, and HXL:
The following table summarizes current analyst target prices for the discussed stocks:
| Name | Symbol | Recent Price | Avg. Analyst 12-Mo. Target | % Upside to Target |
|---|---|---|---|---|
| SPDR Portfolio S&P 400 Mid Cap ETF | SPMD | $45.88 | $63.22 | 37.80% |
| Fabrinet | FN | $178.70 | $267.57 | 49.73% |
| Timken Co. | TKR | $59.01 | $87.78 | 48.76% |
| Hexcel Corp. | HXL | $47.76 | $69.86 | 46.28% |
Given these figures, investors might wonder if analysts are justified in their targets or if they are overly optimistic about where these stocks will be trading in the next year. Validating the analysts’ projections requires examining recent company developments and industry trends. While a high target could indicate optimism for future growth, it may also signal a potential for price target downgrades if the targets are based on outdated information. Such considerations warrant thorough research by investors.
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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.
