On Holding price target raised to $61 from $58 at Truist

Truist raised the firm’s price target on On Holding (ONON) to $61 from $58 and keeps a Buy rating on the shares. The stock fell despite the company reporting a solid beat and raise due to a very high bar coming into the print and FX headwinds, the analyst tells investors in a research note. Critically, demand trends remain robust across regions, channels, and categories, with growth that is expected to continue accelerating in Q4, Truist added.