The Online Investor

The Implied Analyst 12-Month Target For EQAL

By The Online Investor Staff, Tuesday, May 24, 7:19 AM ET

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 Invesco Russell 1000 Equal Weight ETF (NYSE:EQAL), we found that the implied analyst target price for the ETF based upon its underlying holdings is $53.98 per unit.

With EQAL trading at a recent price near $42.23 per unit, that means that analysts see 27.82% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of EQAL's underlying holdings with notable upside to their analyst target prices are Floor & Decor Holdings Inc (NYSE:FND), CureVac NV (NASDAQ:CVAC), and Jamf Holding Corp (NASDAQ:JAMF). Although FND has traded at a recent price of $69.67/share, the average analyst target is 61.59% higher at $112.58/share. Similarly, CVAC has 55.40% upside from the recent share price of $19.09 if the average analyst target price of $29.67/share is reached, and analysts on average are expecting JAMF to reach a target price of $39.10/share, which is 49.35% above the recent price of $26.18. Below is a twelve month price history chart comparing the stock performance of FND, CVAC, and JAMF:

FND, CVAC, and JAMF 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
Invesco Russell 1000 Equal Weight ETF EQAL $42.23 $53.98 27.82%
Floor & Decor Holdings Inc FND $69.67 $112.58 61.59%
CureVac NV CVAC $19.09 $29.67 55.40%
Jamf Holding Corp JAMF $26.18 $39.10 49.35%

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.

The average analyst target price data upon which this article was based, is courtesy of data provided by Zacks Investment Research via
Get the latest Zacks research report on FND — FREE
Get the latest Zacks research report on CVAC — FREE
Get the latest Zacks research report on JAMF — FREE

Find the right mix of model portfolios today at

This Article's Word Cloud:   Analyst   Below   CVAC   Corp   CureVac   Decor   EQAL   ETFs   Equal   FREEGet   Floor   Holding   Holdings   Invesco   JAMF   Jamf   NYSE   Russell   Target   Upside   Weight   With   Zacks   about   above   analyst   analysts   average   background   based   border   bottom   color   data   font   hctblstyle   holdings   latest   mdash   price   recent   report   research   share   target   targets   that   trading   underlying   upside

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