Truist Securities Reiterates Buy Rating on On Holding AG (ONON)

Truist Securities analyst Joseph Civello reiterated a Buy rating and $61.00 price target on On Holding AG (NYSE: ONON)

The analyst comments "ONON shares are down ~16% since peaking on 1/30/25 (vs the S&P’s ~flat performance). While we attribute a significant portion of recent weakness to negative read-throughs from peers like Deckers (DECK, Buy) and Skechers (SKX, Not Rated), we also believe a miss implied by Bloomberg observed sales data is likely pressuring sentiment. In our view, this stems largely from a data analysis issue from Bloomberg as reads from Truist Card Data suggest ~in line results from ONON’s US Direct-to-Consumer business in 4Q24. We believe that demand for ONON remains robust and reiterate our Buy rating/$61 PT."

For an analyst ratings summary and ratings history on On Holding AG click here. For more ratings news on On Holding AG click here.

Shares of On Holding AG closed at $53.97 yesterday.

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