On Holding named a best idea for 2024 at TD Cowen

TD Cowen analyst John Kernan named On Holding (ONON) “a best idea for 2024” The stock has lagged peers like Deckers (DECK), Lululemon (LULU) and Nike (NKE) of late as On has “become more controversial lately” with a “stealth” 50% off sale and elevated inventory, but the firm thinks future growth in EPS will be greater at On Holding, says the analyst, who keeps an Outperform rating and $35 price target on the shares.