Raymond James upgraded On Holding (ONON) to Strong Buy from Outperform with a price target of $63, up from $58. The firm also added the shares to its Analyst Current Favorites List. Raymond James says the company’s “strong” year-to-date results increases its confidence in upside to estimates based on positive brand and product heat, an opportunity to grow awareness, optionality to scale wholesale, and capability to overcome operational hurdles. On is the fastest growth story of Raymond James’ coverage, which is supported by strong momentum across channels, geographies and categories, the analyst tells investors in a research note. The firm believes the company’s premium branding and low exposure to China sourcing also help insulate it from tariff risk better than peers.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
