Citi analyst Paul Lejuez reiterated a Buy rating on On Holding AG today and set a price target of $60.00.
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Paul Lejuez has given his Buy rating due to a combination of factors including stronger-than-expected recent performance and conservative guidance that leaves room for upside. The company delivered robust fourth-quarter and full-year results, materially outpacing its initial outlook on both revenue growth and profitability, reinforcing management’s pattern of cautious forecasting.
In addition, Lejuez highlights sustained demand momentum across all regions, supported by a solid innovation pipeline and easing comparisons as the year progresses. He also points to ONON’s pricing power, scope for further margin expansion, and ongoing market share gains, and he views the current valuation—based on his $60 target price and projected EV/EBITDA multiples—as attractive relative to the company’s growth profile.
In another report released today, Goldman Sachs also maintained a Buy rating on the stock with a $56.00 price target.