Needham analyst Anna Andreeva added On Holding (ONON) the firm’s Conviction List as a top pick for 2024, replacing Chewy (CHWY). On shares have not participated in the recent rally, falling 30% since August, with the stock not reflecting the company’s’ “unique” growth profile while short interest is up 25% in the last six months, the analyst tells investors in a research note. Needham thinks On 2024 consensus estimates are “in the right place” and keeps a Buy rating on the shares with a $40 price target.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ONON:
- On Holding AG call volume above normal and directionally bullish
- Nike price target lowered to $107 from $108 at Truist
- Top consumer names to own in 2024, according to Telsey Advisory
- The sports and lifestyle brand stocks to own in 2024, according to Stifel
- On Holding price target raised by $4 at Stifel, here’s why
Questions or Comments about the article? Write to editor@tipranks.com