On Holding price target raised to $62 from $53 at Telsey Advisory

Telsey Advisory raised the firm’s price target on On Holding (ONON) to $62 from $53 and keeps an Outperform rating on the shares. The company’s global brand awareness improved in Q3, helped by marketing and new products, which allowed the company to exceed sales expectations for the quarter, the analyst tells investors. Looking ahead, the firm believes the company can extend its brand momentum in 2025 via product launches, store openings, wholesale door growth, increased apparel penetration, and ongoing marketing campaigns.