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 PowerShares DWA Industrials Momentum Portfolio ETF (Symbol: PRN), we found that the implied analyst target price for the ETF based upon its underlying holdings is $47.55 per unit.
With PRN trading at a recent price near $39.16 per unit, that means that analysts see 21.43% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of PRN's underlying holdings with notable upside to their analyst target prices are Paylocity Holding Corp (Symbol: PCTY), On Assignment, Inc. (Symbol: ASGN), and Deluxe Corp. (Symbol: DLX). Although PCTY has traded at a recent price of $25.17/share, the average analyst target is 79.35% higher at $45.14/share. Similarly, ASGN has 57.42% upside from the recent share price of $31.58 if the average analyst target price of $49.71/share is reached, and analysts on average are expecting DLX to reach a target price of $76.50/share, which is 46.95% above the recent price of $52.06. Below is a twelve month price history chart comparing the stock performance of PCTY, ASGN, and DLX:
|Name||Symbol||Recent Price||Avg. Analyst 12-Mo. Target||% Upside to Target|
|PowerShares DWA Industrials Momentum Portfolio ETF||PRN||$39.16||$47.55||21.43%|
|Paylocity Holding Corp||PCTY||$25.17||$45.14||79.35%|
|On Assignment, Inc.||ASGN||$31.58||$49.71||57.42%|
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.