Goldman Sachs upgraded On Holding (ONON) to Buy from Neutral with a price target of $59, up from $52. The de-rating in the shares over the last 12 months creates an attractive entry point, the analyst tells investors in a research note. Goldman believes On should grow revenue, EBITDA and earnings over 20% through to 2028 as it continues to leverage its “unique premium position” in the sportswear market to drive sales growth and margin expansion. It sees the company beating Q4 estimates, saying higher frequency data indicates a “very strong” holiday season for the brand.
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