Stock Track | On Holding AG Soars 5.01% as Analysts Boost Outlook on Strong Brand and Growth

Stock Track11-22 01:52

On Holding AG (ONON), the Swiss sportswear maker, saw its stock surge 5.01% in Thursday's intraday trading session, driven by bullish analyst upgrades and positive sentiment surrounding the company's strong brand momentum and growth prospects.

Brokerage firm Raymond James led the charge, upgrading ONON to a "strong buy" rating from "outperform" and increasing its price target to $63, implying a potential upside of 17%. The upgrade was based on ONON's impressive year-to-date results, positive brand heat, and demonstrated capability to overcome operational hurdles.

Analysts at Raymond James highlighted ONON's insulation from potential Chinese tariff risks due to its low exposure to China sourcing, providing an advantage over its peers. They also noted the company's long runway for growth and track record of exceeding expectations, which should alleviate concerns about its premium valuation.

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