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On Holding price target raised to $85 from $79 at UBS

UBS analyst Jay Sole raised the firm’s price target on On Holding (ONON) to $85 from $79 and keeps a Buy rating on the shares. On’s continued focus on innovation, performance, athletes, sports, direct-to-consumer selling, and maintaining a premium, full-price brand image should drive industry-leading sales and earnings growth, the analyst tells investors in a research note. UBS forecasts On delivering 20%, 24%, and 20% 5-year sales, adjusted EBITDA, EPS compound annual growth rates, respectively.

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