Utilities ETF Hits New 52-Week High
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 08 2024
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Source: Benzinga
ETF Performance: The Invesco S&P SmallCap Utilities & Communication Services ETF (PSCU) has reached a 52-week high, increasing by 22.6% from its low, and offers exposure to U.S. utility and communication service companies.
Market Outlook: Despite current recession fears leading to market volatility, PSCU is considered a defensive investment with potential for further gains, supported by strong industry rankings within its sectors.
Analyst Views on PSCU
Wall Street analysts forecast PSCU stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PSCU is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 59.715
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Current: 59.715
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
