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 Mid Cap US Equity Select ETF (Symbol: RNMC), we found that the implied analyst target price for the ETF based upon its underlying holdings is $23.51 per unit.With RNMC trading at a recent price near $20.75 per unit, that means that analysts see 13.29% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of RNMC's underlying holdings with notable upside to their analyst target prices are Air Lease Corp (Symbol: AL), Penske Automotive Group Inc (Symbol: PAG), and Timken Co. (Symbol: TKR). Although AL has traded at a recent price of $38.28/share, the average analyst target is 50.64% higher at $57.67/share. Similarly, PAG has 31.29% upside from the recent share price of $46.59 if the average analyst target price of $61.17/share is reached, and analysts on average are expecting TKR to reach a target price of $57.00/share, which is 30.94% above the recent price of $43.53. Below is a twelve month price history chart comparing the stock performance of AL, PAG, and TKR: 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|
|Mid Cap US Equity Select ETF||RNMC||$20.75||$23.51||13.29%|
|Air Lease Corp||AL||$38.28||$57.67||50.64%|
|Penske Automotive Group Inc||PAG||$46.59||$61.17||31.29%|
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of NASDAQ, Inc.