Heffernan Capital Management has upgraded the iShares MSCI Hong Kong Index Fund EWH to “must own,” the firm's highest rating. The firm placed a $20 2012 price target on the ETF following “sharp and unjustified sell off.”
Year-to-date, the iShares MSCI Hong Kong Index Fund is off more than 23% and the ETF recently violated critical support just below $15, so the $20 price target implies substantial upside from where EWH currently trades.
Home to 42 stocks, EWH has $1.35 billion in assets under management and an expense ratio of 0.53%.
Financials account for over 60% of EWH's sector weight while utilities, consumer discretionary and industrial names combine for another 37%.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: Analyst ColorLong IdeasNewsShort IdeasUpgradesEmerging Market ETFsPrice TargetIntraday UpdateMarketsAnalyst RatingsTrading IdeasETFsHeffernan Capital
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in