Analysts Expect MDY Will Reach $385

Multiple stacks of coins
Credit: Shutterstock photo

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 SPDR S&P MIDCAP 400 ETF (Symbol: MDY), we found that the implied analyst target price for the ETF based upon its underlying holdings is $385.35 per unit.

With MDY trading at a recent price near $292.90 per unit, that means that analysts see 31.56% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of MDY's underlying holdings with notable upside to their analyst target prices are Haemonetics Corp. (Symbol: HAE), Bed, Bath & Beyond, Inc. (Symbol: BBBY), and nVent Electric PLC (Symbol: NVT). Although HAE has traded at a recent price of $92.17/share, the average analyst target is 38.15% higher at $127.33/share. Similarly, BBBY has 37.98% upside from the recent share price of $10.81 if the average analyst target price of $14.92/share is reached, and analysts on average are expecting NVT to reach a target price of $28.00/share, which is 37.46% above the recent price of $20.37. Below is a twelve month price history chart comparing the stock performance of HAE, BBBY, and NVT:

HAE, BBBY, and NVT Relative Performance Chart

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
SPDR S&P MIDCAP 400 ETF MDY $292.90 $385.35 31.56%
Haemonetics Corp. HAE $92.17 $127.33 38.15%
Bed, Bath & Beyond, Inc. BBBY $10.81 $14.92 37.98%
nVent Electric PLC NVT $20.37 $28.00 37.46%

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.

10 ETFs With Most Upside To Analyst Targets »

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

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

In This Story


Other Topics


Latest Markets Videos

BNK Invest

BNK Invest Inc. provides investment services and information. BNK Invest owns and operates a market news family of websites including DividendChannel, ETFChannel, StockOptionsChannel, and others, which make up an investor community featuring stock message boards, ratings, research, and strategies. BNK Invest caters to investing firms and individual investors internationally.

Learn More