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Sum Up The Parts: FDL Could Be Worth $33

By Dividend Channel Staff, Thursday, October 11, 7:59 AM ET
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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 First Trust Morningstar Dividend Leaders Index Fund ETF (NYSE:FDL), we found that the implied analyst target price for the ETF based upon its underlying holdings is $32.70 per unit.

With FDL trading at a recent price near $29.64 per unit, that means that analysts see 10.31% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of FDL's underlying holdings with notable upside to their analyst target prices are Kennedy-Wilson Holdings Inc (NYSE:KW), Aircastle Ltd. (NYSE:AYR), and Cohen & Steers Inc (NYSE:CNS). Although KW has traded at a recent price of $19.51/share, the average analyst target is 26.43% higher at $24.67/share. Similarly, AYR has 18.12% upside from the recent share price of $20.62 if the average analyst target price of $24.36/share is reached, and analysts on average are expecting CNS to reach a target price of $44.50/share, which is 17.94% above the recent price of $37.73. Below is a twelve month price history chart comparing the stock performance of KW, AYR, and CNS:

KW, AYR, and CNS Relative Performance Chart

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
First Trust Morningstar Dividend Leaders Index Fund ETF FDL $29.64 $32.70 10.31%
Kennedy-Wilson Holdings Inc KW $19.51 $24.67 26.43%
Aircastle Ltd. AYR $20.62 $24.36 18.12%
Cohen & Steers Inc CNS $37.73 $44.50 17.94%

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.
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This Article's Word Cloud:   Aircastle   Analyst   Below   Cohen   Dividend   ETFs   FREEGet   First   Fund   Holdings   Index   Kennedy   Leaders   Morningstar   NYSE   Steers   Target   Trust   Upside   Wilson   With   Zacks   about   above   analyst   analysts   average   background   based   border   bottom   color   data   font   from   have   hctblstyle   holdings   latest   price   recent   report   research   share   target   targets   that   trading   underlying   upside

Sum Up The Parts: FDL Could Be Worth $33 | www.DividendChannel.com | Copyright © 2010 - 2018, All Rights Reserved

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