On Holding price target raised to $61 from $55 at UBS

UBS raised the firm’s price target on On Holding (ONON) to $61 from $55 and keeps a Buy rating on the shares. UBS believes On Holding will report solid Q3 earnings, sending the stock’s P/E higher, the analyst tells investors in a research note. The firm’s checks indicate On’s topline momentum accelerated during the quarter and anticipates On raises its FY24 ex-FX sales growth guidance by 100 basis points, maintains its adjusted EBITDA margin outlook, and points to more quarter over quarter sales growth rate improvement in Q4.