SPYG stock price registered a 1.1% gain in the past month, a move underpinned by stronger manufacturing PMI releases that bolstered investor sentiment towards growth-oriented U.S. equities. Technical pullbacks have been shallow. The Fed opted to maintain its benchmark interest rate within a range of 5.25% to 5.50%, a level it has maintained since July 2023. However, the Fed has revised rate cut predictions. While previously predicting three rate cuts for the year, the Fed scaled back its estimate to just one due to sticky inflation. With SPYG trading at a recent price near $89.56 per unit, that means that analysts see 10.70% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of SPYG's underlying holdings with notable upside to their analyst target prices are Cadence Design Systems Inc (Symbol: CDNS), T-Mobile US Inc (Symbol: TMUS), and PTC Inc (Symbol: PTC). Although CDNS has traded at a recent price of $288.61/share, the average analyst target is 13.01% higher at $326.17/share. Similarly, TMUS has 12.02% upside from the recent share price of $241.51 if the average analyst target price of $270.53/share is reached, and analysts on average are expecting PTC to reach a target price of $186.39/share, which is 11.36% above the recent price of $167.38. Below is a twelve month price history chart comparing the stock performance of CDNS, TMUS, and PTC: SPYG stock price saw steady accumulation on dips last week, with intraday lows quickly bought up, reflecting algorithmic trading patterns favoring long exposure. Bollinger Bands show expanding volatility range.