In a report released today, Tom Nikic from Needham maintained a Buy rating on On Holding AG, with a price target of $62.00.
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Tom Nikic has given his Buy rating due to a combination of factors that highlight On Holding AG’s strong financial performance and growth potential. The company demonstrated impressive momentum with a significant beat-and-raise in its second quarter, showcasing robust revenue growth of 38% on a constant currency basis, surpassing market expectations.
Moreover, On Holding AG has increased its full-year outlook, projecting at least 31% revenue growth and improved adjusted EBITDA margins. Despite some non-operational foreign exchange headwinds affecting earnings per share, the overall fundamentals remain solid, prompting the positive rating from Tom Nikic.