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Peek Under The Hood: MIDU Has 12% Upside


Joel Kornblau, Editor, ETF Channel - Thursday, June 26, 2025, 7:37 AM

In an office high in a skyscraper, a monitor with global ETF heat map sits atop a dark solid wood desk, with ETF research printouts and a coffee mug with the words Focus, Plan, Invest, Repeat.

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 Direxion Daily Mid Cap Bull 3X Shares ETF (MIDU), we found that the implied analyst target price for the ETF based upon its underlying holdings is $48.07 per unit.

With MIDU trading at a recent price near $43.04 per unit, that means that analysts see 11.69% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of MIDU's underlying holdings with notable upside to their analyst target prices are RenaissanceRe Holdings Ltd. (RNR), Floor & Decor Holdings Inc (FND), and Parsons Corp (PSN). Although RNR has traded at a recent price of $240.84/share, the average analyst target is 14.91% higher at $276.75/share. Similarly, FND has 13.82% upside from the recent share price of $76.00 if the average analyst target price of $86.50/share is reached, and analysts on average are expecting PSN to reach a target price of $77.75/share, which is 13.49% above the recent price of $68.51. Below is a twelve month price history chart comparing the stock performance of RNR, FND, and PSN:

RNR, FND, and PSN Relative Performance Chart

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

Name Symbol Recent Price Avg. Analyst 12-Mo. Target % Upside to Target
Direxion Daily Mid Cap Bull 3X Shares ETF MIDU $43.04 $48.07 11.69%
RenaissanceRe Holdings Ltd. RNR $240.84 $276.75 14.91%
Floor & Decor Holdings Inc FND $76.00 $86.50 13.82%
Parsons Corp PSN $68.51 $77.75 13.49%

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.
Get the latest Zacks research report on RNR — FREE
Get the latest Zacks research report on FND — FREE
Get the latest Zacks research report on PSN — FREE



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