UBS Reiterates Buy Rating on On Holding AG (ONON) Ahead of Q4 Print

UBS analyst Jay Sole reiterated a Buy rating and $85.00 price target on On Holding AG (NYSE: ONON).

The analyst commented, "Our checks suggest On maintained robust momentum with consumers. We forecast a ~50-100 bps 4Q ex-FX sales growth beat. For FY26, we anticipate ONON reiterates its ex-FX sales growth guidance of approximately +23% and introduces an adjusted EBITDA margin outlook of 18.0-18.5%. We believe this will match the market's expectation. The upside risk is ONON offers a slightly better than expected FY26 topline guide. The downside risk is, even though sentiment is bearish, the market may still require strength across the P&L, including Americas revenue growth, GM%, and SG&A. The options market is pricing in a +/- 10.1% move vs. a +/-10.7% historical avg. move. We agree shares may be volatile."

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 $47.33 yesterday.

You May Also Be Interested In

• Phillips 66, Marathon Merger Talks Collapsed - Semafor
• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy