In a report released today, Sam Poser from Williams Trading maintained a Buy rating on On Holding AG, with a price target of $70.00.
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Sam Poser has given his Buy rating due to a combination of factors that highlight On Holding AG’s strong financial performance and strategic management decisions. The company has shown impressive growth with a 38% increase in constant currency revenue and significant improvements in both gross and EBITDA margins in the second quarter of 2025. This performance is attributed to the management’s strategic decision to focus on a scarcity model that prioritizes the long-term health of the brand over short-term gains.
Moreover, On Holding AG’s increased guidance for the fiscal year 2025, despite the impact of tariffs on Vietnamese products, is seen as conservative, suggesting potential for further outperformance. The company’s ability to maintain robust sales despite price increases and the positive reception from retailers further supports this outlook. Additionally, On Holding AG is recognized as a must-have brand among retailers, alongside other successful brands, due to its effective product distribution, innovative offerings, and strong brand messaging.
In another report released today, TD Cowen also reiterated a Buy rating on the stock with a $60.00 price target.