NOBL Is A Noble ETF That Makes Sense At Its Current Price
The ProShares S&P 500 Dividend Aristocrats ETF (NOBL) has been upgraded to a Buy rating due to its appealing characteristics. It features a favorable sector mix and low concentration, with no holdings in the 'Magnificent 7' tech stocks. The outlook suggests potential for an 8% increase, particularly if the technology sector weakens.
- ▪NOBL is viewed as a compelling large-cap alternative despite recent underperformance.
- ▪The ETF has a forward PE of 17.4x median and 19.8x average.
- ▪It offers attractive sector exposure and downside protection in bearish scenarios.
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