Analysts Predict Upside for ProShares S&P 500 Dividend Aristocrats ETF
We examined the underlying holdings of the ETFs covered by ETF Channel. The analysis compared the trading prices of each holding against the average analyst 12-month forward target price, allowing us to compute the weighted average implied target price for the ETF. For the ProShares S&P 500 Dividend Aristocrats ETF (Symbol: NOBL), the implied analyst target price is $107.12 per unit.
Currently, NOBL is trading at approximately $97.53 per unit, indicating an upside potential of 9.84% based on these analyst targets. Among NOBL’s underlying holdings, three stocks show a significant upside potential: Clorox Co (Symbol: CLX), Hormel Foods Corp. (Symbol: HRL), and Genuine Parts Co. (Symbol: GPC). Clorox’s recent price is $135.05 per share, with an average target price of $151.38 per share, representing a 12.09% upside. Hormel Foods has a target price of $32.28 per share, which is 10.75% above its recent trading price of $29.15. Genuine Parts is expected to reach a target price of $129.56 per share, which is 10.71% higher than its current price of $117.02. Below, you can see a twelve-month price history chart comparing the stock performance of CLX, HRL, and GPC:
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 |
|---|---|---|---|---|
| ProShares S&P 500 Dividend Aristocrats ETF | NOBL | $97.53 | $107.12 | 9.84% |
| Clorox Co | CLX | $135.05 | $151.38 | 12.09% |
| Hormel Foods Corp. | HRL | $29.15 | $32.28 | 10.75% |
| Genuine Parts Co. | GPC | $117.02 | $129.56 | 10.71% |
Analysts’ targets can sometimes reflect optimism about future performance. However, they may also indicate potential downgrades if those targets are overly ambitious based on recent market developments. Investors are encouraged to conduct their own research to assess the validity of these projections.
10 ETFs With Most Upside To Analyst Targets »
Also see:
• PE History
• NM shares outstanding history
• Funds Holding QID
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
