On Holding price target raised to $63 from $61 at UBS

UBS raised the firm’s price target on On Holding (ONON) to $63 from $61 and keeps a Buy rating on the shares. On’s Q3 earnings report was strong, underscoring its toward becoming the world’s leading premium, direct to consumer-led, global athletic wear brand, and UBS forecasts ON can deliver a 22% 5 year compound annual sales growth rate and 5% EPS CAGR, which would make On one of the world’s fastest growing athletic wear brands and worthy of a premium multiple, the analyst tells investors in a research note