On Holding price target lowered to $45 from $58 at Evercore ISI

Evercore ISI analyst Michael Binetti lowered the firm’s price target on On Holding (ONON) to $45 from $58 and keeps an Outperform rating on the shares. On’s CEO exit “injects a new layer of uncertainty,” prompting a lower target but “not a change in core view,” the analyst tells investors.