The target price for the SPDR S&P 500 ETF Trust (SPY) is $636.85 per unit, which represents the implied average analyst target price for the ETF based on its underlying holdings1. This average target price was calculated by analysts from various brokerage houses, representing a "wisdom of crowds" effort.
- Analyst Targets: The average analyst target price for SPY is $636.85, which is higher than the current trading price of approximately $599.11. This indicates that analysts see potential upside for the ETF, with a projected increase of approximately 9.82% if the average target price is reached1.
- Individual Holdings: Three of SPY's underlying holdings with notable upside to their analyst target prices are FirstEnergy Corp (FE), Veralto Corp (VLTO), and Cardinal Health, Inc. (CAH)1. These companies could potentially drive the growth in SPY's stock price towards the analyst target.
- Market Performance and Fund Flow: SPY has experienced a recent inflow of approximately $4 billion, which represents a 0.7% increase in outstanding units2. This could be indicative of investor confidence in the ETF's potential to reach the analyst target price.
- Technical Analysis: SPY's 200-day moving average is $586.12, which is above the current trading price2. This could suggest a potential upside in the stock price towards the analyst target price.
In conclusion, the target price for SPY is $636.85 per unit, based on the average analyst target price for the ETF's underlying holdings. This represents a potential upside of approximately 9.82% from the current trading price.
11/11/2024 04:42pm
