SPDR S&P 500 ETF Trust Sees Steady Growth in 2023

NEW YORK, NY – The SPDR S&P 500 ETF Trust (SPY) has shown a robust performance, rising 1.26% over the last five days and marking a 15.17% increase year-to-date. Analysts at TipRanks have categorized SPY as a Moderate Buy based on a weighted average of ratings for its holdings.

The forecast price for SPY stands at $740.87, which suggests an upside potential of 10.14%. Among SPY’s holdings, the stocks with the highest potential gain include Moderna, Dexcom, Fiserv, MGM Resorts, and Align Technology. Conversely, stocks with the greatest downside potential include Paramount Skydance, Intel, Tesla, Super Micro Computer, and Lam Research.

Recently, MGM Resorts experienced a decline of over 2% amidst broader concerns about discretionary spending, impacting investor sentiment on casino stocks. The overall rating for SPY’s ETF is seven, indicating its expected performance will likely align with the broader market.

In related news, Goldman Sachs analyst has reiterated a Buy rating for Lam Research, setting the price target at $160.00. The shares closed at $142.54 yesterday. Analyst Stacy Rasgon from Bernstein also issued a Buy rating on Lam Research on September 30 while Wells Fargo maintained a Hold rating on October 3. Lam Research has set a one-year high of $153.70 and a low of $56.32, with an average volume of 11.68 million shares.

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