On Holding initiated with a Buy at Needham

Needham initiated coverage of On Holding (ONON) with a Buy rating and $64 price target On has been “one of the strongest fundamental names in our coverage,” says the analyst, citing the company’s “industry-leading” top-line growth and healthy margin expansion. The firm believes the company has continued runway for strong growth as they increase brand awareness and gain shelf space with sneaker retailers, the analyst tells investors.