On Holding price target raised to $60 from $55 at Piper Sandler

Piper Sandler raised the firm’s price target on On Holding (ONON) to $60 from $55 and keeps an Overweight rating on the shares. The firm says the company’s Q3 print dispelled a lot of the bear case on durability of the 20%-plus current currency growth across the portfolio into 2026. Piper models mid-teens growth in 2025 and low double digits in 2026, impressive considering more promotional competitive set and On Holding’s commitment to staying full price.