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On Holding Continues Its Run Post Solid Q3; Analysts Bump Up Price Target

Credit Suisse analyst Michael Binetti raised On Holding AG's (NYSE: ONON) price target to $49 from $38 and kept an outperform rating on the stock.
byShivani Kumaresan
November 17, 2021
1 minute read
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  • Credit Suisse analyst Michael Binetti raised On Holding AG’s (NYSE:ONON) price target to $49 from $38 and kept an outperform rating on the stock.
  • Binetti said the company delivered “big” Q3 revenue/EBITDA beats despite outsized sourcing pressures.
  • Baird analyst Jonathan Komp raised the price target to $51 from $38 and maintained an Outperform rating.
  • The analyst said he remains confident in the company’s ability to deliver attractive growth at/above its attractive multi-year algorithm, justifying premium valuation.
  • Williams Trading analyst Sam Poser upgraded On Holding to Hold from Sell.
  • The company reported a 67% sales growth in Q3.
  • Price Action: ONON shares are trading higher by 19.4% at $54.44 on the last check Wednesday.
 
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