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 First Trust New Constructs Core Earnings Leaders ETF (FTCE), we found that the implied analyst target price for the ETF based upon its underlying holdings is $22.60 per unit.