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 Steel ETF (Symbol: SLX), we found that the implied analyst target price for the ETF based upon its underlying holdings is $67.49 per unit.
With SLX trading at a recent price near $50.58 per unit, that means that analysts see 33.43% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of SLX's underlying holdings with notable upside to their analyst target prices are Companhia Siderurgica Nacional (Symbol: SID), ArcelorMittal SA (Symbol: MT), and Ternium S A (Symbol: TX). Although SID has traded at a recent price of $2.51/share, the average analyst target is 93.23% higher at $4.85/share. Similarly, MT has 66.28% upside from the recent share price of $21.87 if the average analyst target price of $36.37/share is reached, and analysts on average are expecting TX to reach a target price of $47.42/share, which is 65.79% above the recent price of $28.60. Below is a twelve month price history chart comparing the stock performance of SID, MT, and TX
