Analysts See 10.97% Upside for Invesco NASDAQ ETF QQQM

Analysts project a 10.97% upside for the Invesco NASDAQ 100 ETF (QQQM) as its current price of $221.56 is significantly below the target of $245.85. Key holdings such as Diamondback Energy, ON Semiconductor, and Microchip Technology show notable growth potential.

Date: 17-02-2025

AI Rating: 7

Analyst Target Prices Analysis

The report indicates that the Invesco NASDAQ 100 ETF (QQQM) is currently undervalued based on analyst projections, with a target price of $245.85 compared to its recent trading price of $221.56. This suggests a potential upside of 10.97% for investors, which is a favorable outlook.

The analysis further highlights three underlying holdings of QQQM: Diamondback Energy, Inc. (FANG), ON Semiconductor Corp (ON), and Microchip Technology Inc (MCHP). Each of these companies has significant upside potential according to analyst target prices.

Diamondback Energy (FANG) has a recent price of $156.99, with an average analyst target of $213.72, indicating a potential upside of 36.14%.
ON Semiconductor Corp (ON) is priced at $51.83, but analysts target a price of $68.61, showing a 32.37% upside.
Microchip Technology Inc (MCHP) trades at $55.76, with an expectation to reach $66.64, equating to a 19.51% upside.

Overall, the high percentage upsides indicate a strong belief in the growth potential of these companies, which could enhance investor confidence and consequently affect their stock prices positively in the months ahead.

However, it’s essential to approach these targets with caution. While the potential for gains is present, analysts note that optimism must be justified by company performance and industry developments. Significant discrepancies between current prices and targets can lead to potential downgrades if the market does not align with analyst expectations.

Stocks: QQQM FANG ON MCHP