Truist lowered the firm’s price target on On Holding (ONON) to $55 from $65 and keeps a Buy rating on the shares. The stock fell after Q4 results as the brand’s momentum is being overshadowed by FX headwinds, a tough discretionary tape, and bear concerns about slower apparel growth, the analyst tells investors in a research note. On’s well-balanced growth profile, rising average selling prices, and strong full-priced sales point to its elevated brand heat, the firm added.
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Read More on ONON:
- On Holding price target lowered to $51 from $59 at Guggenheim
- On Holding price target lowered to $55 from $63 at BofA
- 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