UBS still ‘very bullish’ on On Holding after athletic wear survey

UBS says the firm’s 11th annual global athletic wear survey shows that On Holding (ONON) “has big growth potential.” The survey indicates On’s global aided awareness is just 15%, much lower than Nike (NKE) at 91% and Under Armour (UA) (UAA) at 53%, the analyst tells investors in a research note. UBS believes rising brand awareness is the main reason On will likely take more market share in 2026. On’s global purchase intentions and Net Promoter scores look solid, adds the firm. It remains “very bullish” on the stock with a Buy rating and $85 price target.