Stifel analyst Peter McGoldrick reiterated a Buy rating and $58.00 price target on On Holding AG (NYSE: ONON).

The analyst comments "Today's announcement of CEO Martin Hoffman's departure comes as a surprise, though we see leadership continuity in place, and view disconnect in the share price as a buying opportunity. The go-forward leadership team has greater delineation of responsibilities, with Co-CEO and Co-founders Mr. Allemann and Mr. Coppetti driving brand and strategy; Mr. Maguire leading product and operations, and incoming CFO Frank Sluis leading the financial organization. FY26 guidance was not explicitly reaffirmed, though we do not see any change to underlying business. Big picture, we believe the Company has a compelling growth trajectory from regional growth, category expansion, and channel penetration. With a profitably growing core meaningfully outpacing the athletic and lifestyle space, strong viability, and current momentum supporting potential upside through 2026, we view risk/reward favorably."

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Shares of On Holding AG closed at $39.59 yesterday.