On Holding price target lowered to $55 from $66 at Raymond James

Raymond James analyst Rick Patel lowered the firm’s price target on On Holding (ONON) to $55 from $66 and keeps an Outperform rating on the shares. Softlines and Digital Commerce names enter Q3 with rising revenue estimates, suggesting improving consumer momentum, the analyst tells investors in a research note. Tariff risk remains the key variable, as higher China tariffs could pressure margins, while FX shifts offer modest relief for Euro- and Pound-exposed companies, the firm says.