CLIX's Holdings Could Mean 13% Gain PotentialBy Dividend Channel Staff, Monday, April 8, 7:01 AM ETLooking 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 Long Online/Short Stores ETF (NYSE:CLIX), we found that the implied analyst target price for the ETF based upon its underlying holdings is $46.25 per unit. With CLIX trading at a recent price near $41.04 per unit, that means that analysts see 12.69% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of CLIX's underlying holdings with notable upside to their analyst target prices are Global-E Online Ltd (NASDAQ:GLBE), MercadoLibre Inc (NASDAQ:MELI), and Beyond Inc (NYSE:BYON). Although GLBE has traded at a recent price of $33.85/share, the average analyst target is 28.26% higher at $43.42/share. Similarly, MELI has 19.96% upside from the recent share price of $1501.72 if the average analyst target price of $1801.43/share is reached, and analysts on average are expecting BYON to reach a target price of $34.71/share, which is 15.71% above the recent price of $30.00. Below is a twelve month price history chart comparing the stock performance of GLBE, MELI, and BYON:
Combined, GLBE, MELI, and BYON represent 7.15% of the ProShares Long Online/Short Stores ETF. Below is a summary table of the current analyst target prices discussed above:
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 Quandl.com.
This Article's Word Cloud:
Analyst
BYON
Below
Beyond
CLIX
ETFs
FREEGet
GLBE
Global
Long
MELI
MercadoLibre
NYSE
Online
ProShares
Short
Stores
Target
Upside
With
Zacks
about
above
analyst
analysts
average
background
based
border
bottom
color
data
font
from
have
hctblstyle
holdings
latest
mdash
price
recent
report
research
share
target
targets
that
trading
underlying
upside
|