On Holding price target raised to $66 from $54 at Raymond James

Raymond James raised the firm’s price target on On Holding (ONON) to $66 from $54 and keeps a Strong Buy rating on the shares. On Holding reported Q1 earnings beats across revenue and margins, and the firm sees upside potential to revenue guidance given April was the strongest month on record, implied second half guidance doesn’t fully bake in the strength of the Wholesale order book, higher planned prices in the fall and winter support growth and further “premiumize” the brand, and On’s strategic priorities continue to be significant drivers, the analyst tells investors in a research note. The firm remains bullish, saying On remains the highest growth story in Softlines with improving margins.