Analysts Forecast 21% Upside for ProShares Ultra QQQ ETF

Analysts see significant upside for the ProShares Ultra QQQ ETF, projecting a target price of $113.47, up 21.33% from its current price of $93.52. Key underlying stocks like Microchip Technology (MCHP) and Idexx Laboratories (IDXX) show similar positive forecasts.

Date: 20-03-2025

AI Rating: 7

Positive Analyst Sentiments: The report highlights analysts' optimistic forecasts for the ProShares Ultra QQQ ETF (QLD), which is currently trading at $93.52 with an implied analyst target price of $113.47. This indicates a potential upside of 21.33%, suggesting a strong inclination among analysts for QLD’s stock performance over the next 12 months.

Underlying Holdings: Three stocks that significantly contribute to this bullish outlook are Microchip Technology Inc (MCHP), Idexx Laboratories, Inc. (IDXX), and NXP Semiconductors NV (NXPI). For MCHP, analysts expect a target price of $67.05, representing a 22.86% upside from its recent price of $54.57. IDXX shares are anticipated to reach $518.50, indicating a 22.82% increase from the current trading price of $422.15. Likewise, NXPI has a target price of $251.67, which is 21.40% above its recent price of $207.31.

Upside Potential: The significant upside percentages for these underlying stocks suggest a generally optimistic outlook from analysts, which may attract investor interest in QLD. Investors may see the analyst targets as opportunities for capital appreciation over the coming year.

Investor Consideration: While the report shows strong target prices relative to the current trading prices, it also implies the necessity for investors to conduct further research. Questions arise regarding whether these targets are justified or if they are rather optimistic, which could result in adjustments if future conditions do not meet expectations.

Stocks: QLD MCHP IDXX NXPI