Fidelity MSCI Information Technology Index ETF: Implied Analyst Target Price at $218, Upside to Analyst Targets

The Fidelity MSCI Information Technology Index ETF (FTEC) has an implied analyst target price of $217.69, representing a 31.20% upside from its recent trading price of $165.92. Analysts expect BigBear.ai Holdings (BBAI), Evolv Technologies (EVLV), and Navitas Semiconductor (NVTS) to reach target prices of $5.33, $4.75, and $3.71, respectively, which would represent upside of 79.56%, 58.86%, and 49.48%, respectively, from their recent prices.

The Fidelity MSCI Information Technology Index ETF (FTEC) has experienced a significant surge in recent days, with analysts projecting a 31.20% upside from its current trading price of $165.92 [1]. This optimistic outlook is driven by expectations of impressive growth for several key holdings within the ETF.

According to data from Morningstar, FTEC's Process Pillar is assessed as sensible, clearly defined, and repeatable for both security selection and portfolio construction [1]. The People Pillar, which evaluates the FTEC management team's experience and ability, is also deemed high-quality [1]. The Parent Pillar, which rates FTEC's parent organization's priorities, is in line with investors' interests [1].

One of the most notable companies expected to drive FTEC's growth is BigBear.ai Holdings (BBAI) [2]. Analysts anticipate BBAI will reach a target price of $5.33, representing a 79.56% upside from its current price [2]. This growth potential is attributed to BigBear.ai's expertise in artificial intelligence and machine learning, which are increasingly in demand across various industries.

Another promising holding within FTEC is Evolv Technologies (EVLV) [2]. With a target price of $4.75, EVLV is expected to experience a 58.86% upside from its current price [2]. This growth is driven by Evolv's innovative security screening technology, which uses AI and 3D imaging to enhance airport security while reducing wait times.

Lastly, Navitas Semiconductor (NVTS) is anticipated to reach a target price of $3.71, representing a 49.48% upside from its current price [2]. This growth is attributed to Navitas' leadership in the development of gallium nitride (GaN) semiconductors, which offer significant advantages in terms of power efficiency, cost, and size compared to traditional silicon-based alternatives.

Overall, the Fidelity MSCI Information Technology Index ETF (FTEC) is poised for continued growth, with analysts bullish on the potential of holdings such as BigBear.ai, Evolv, and Navitas.

[1] https://www.morningstar.com/etfs/ARCX/FTEC/quote
[2] https://etfdb.com/etf/FTEC/