BofA lowered the firm’s price target on On Holding (ONON) to $55 from $63 and keeps a Buy rating on the shares. The firm sees a “consistent and successful strategy at work,” but cut its forecasts, telling investors that a 7%-9% EBIT cut in conjunction with the recent sector derating in peer valuations leads the firm to cut its price target by 13%.
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Read More on ONON:
- Buy Rating on ONON Driven by Conservative Guidance, Outperformance, and Attractive Growth-Valuation Profile
- On Holding price target lowered to $57 from $60 at Barclays
- On Holding price target lowered to $56 from $58.50 at Goldman Sachs
- On Holding price target lowered to $58 from $60 at Stifel
- On Holding price target lowered to $58 from $60 at Evercore ISI