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 ProShares RAFI Long/Short ETF ( RALS), we found that the implied analyst target price for the ETF based upon its underlying holdings is $42.60 per unit.With RALS trading at a recent price near $38.84 per unit, that means that analysts see 9.69% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of RALS's underlying holdings with notable upside to their analyst target prices are PDL BioPharma Inc ( PDLI), Rexnord Corp ( RXN), and PHH Corp ( PHH). Although PDLI has traded at a recent price of $3.18/share, the average analyst target is 17.92% higher at $3.75/share. Similarly, RXN has 17.23% upside from the recent share price of $18.34 if the average analyst target price of $21.50/share is reached, and analysts on average are expecting PHH to reach a target price of $17.00/share, which is 16.68% above the recent price of $14.57. Below is a twelve month price history chart comparing the stock performance of PDLI, RXN, and PHH: 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|
|ProShares RAFI Long/Short ETF||RALS||$38.84||$42.60||9.69%|
|PDL BioPharma Inc||PDLI||$3.18||$3.75||17.92%|
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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