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 600 Small Cap ETF (SLY), we found that the implied analyst target price for the ETF based upon its underlying holdings is $119.51 per unit.With SLY trading at a recent price near $106.60 per unit, that means that analysts see 12.11% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of SLY's underlying holdings with notable upside to their analyst target prices are Fabrinet ( FN), Exar Corp. ( EXAR), and MiMedx Group Inc ( MDXG). Although FN has traded at a recent price of $37.96/share, the average analyst target is 32.92% higher at $50.46/share. Similarly, EXAR has 30.27% upside from the recent share price of $9.02 if the average analyst target price of $11.75/share is reached, and analysts on average are expecting MDXG to reach a target price of $11.60/share, which is 30.19% above the recent price of $8.91. Below is a twelve month price history chart comparing the stock performance of FN, EXAR, and MDXG: 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 600 Small Cap ETF||SLY||$106.60||$119.51||12.11%|
|MiMedx Group Inc||MDXG||$8.91||$11.60||30.19%|
The average analyst target price data upon which this article was based, is courtesy of data provided by Zacks Investment Research via Quandl.com.
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