Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the Frontier Asset US Large Cap Equity ETF (Symbol: FLCE), we found that the implied analyst target price for the ETF based upon its underlying holdings is $33.77 per unit.
With FLCE trading at a recent price near $30.52 per unit, that means that analysts see 10.64% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of FLCE's underlying holdings with notable upside to their analyst target prices are T ROWE PRC CAP APPRECIATION (Symbol: TCAF), T ROWE PRICE US EQY RESEARCH (Symbol: TSPA), and ISHARES US EQUITY FACTOR ETF (Symbol: LRGF). Although TCAF has traded at a recent price of $40.09/share, the average analyst target is 19.86% higher at $0.00/share. Similarly, TSPA has 13.43% upside from the recent share price of $46.48 if the average analyst target price of $0.00/share is reached, and analysts on average are expecting LRGF to reach a target price of $0.00/share, which is 12.03% above the recent price of $74.34. Below is a twelve month price history chart comparing the stock performance of TCAF, TSPA, and LRGF:
Combined, TCAF, TSPA, and LRGF represent 56.11% of the Frontier Asset US Large Cap Equity ETF. Below is a summary table of the current analyst target prices discussed above:
| Name | Symbol | Recent Price | Avg. Analyst 12-Mo. Target | % Upside to Target |
|---|---|---|---|---|
| Frontier Asset US Large Cap Equity ETF | FLCE | $30.52 | $33.77 | 10.64% |
| T ROWE PRC CAP APPRECIATION | TCAF | $40.09 | $0.00 | 19.86% |
| T ROWE PRICE US EQY RESEARCH | TSPA | $46.48 | $0.00 | 13.43% |
| ISHARES US EQUITY FACTOR ETF | LRGF | $74.34 | $0.00 | 12.03% |
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
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Further FLCE Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
