Surprising Analyst 12-Month Target For QABA

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With QABA trading at a recent price near $31.94 per unit, that means that analysts see 23.77% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of QABA's underlying holdings with notable upside to their analyst target prices are CNB Financial Corp. (CCNE), Columbia Financial Inc (CLBK), and Civista Bancshares Inc (CIVB). Although CCNE has traded at a recent price of $14.81/share, the average analyst target is 48.55% higher at $22.00/share. Similarly, CLBK has 40.65% upside from the recent share price of $11.02 if the average analyst target price of $15.50/share is reached, and analysts on average are expecting CIVB to reach a target price of $17.65/share, which is 39.75% above the recent price of $12.63. Below is a twelve month price history chart comparing the stock performance of CCNE, CLBK, and CIVB:

Below is a summary table of the current analyst target prices discussed above:

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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